Keefe Bruyette & Woods Maintains First NBC Bank Holding Company to Market Perform with Price Target $15.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on First NBC Bank Holding Company(NASDAQ:FNBC). In a research note issued to the investors, the brokerage major Lowers the price-target to $15.00 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Sep 12, 2016.

In a different note, On Aug 23, 2016, Keefe Bruyette & Woods said it Upgrades its rating on First NBC Bank Holding Company. In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Outperform’ by the firm.

First NBC Bank Holding Company (FNBC) made into the market gainers list on Tuesdays trading session with the shares advancing 0.66% or 0.07 points. Due to strong positive momentum, the stock ended at $10.63, which is also near the day’s high of $10.75. The stock began the session at $10.61 and the volume stood at 4,47,770 shares. The 52-week high of the shares is $43.52 and the 52 week low is $10.55. The company has a current market capitalization of $204 M and it has 1,92,31,427 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 14, 2016, John F. French (director) purchased 2,000 shares at $25.20 per share price.Also, On Mar 13, 2015, Marsha S. Crowle (SEVP/CHIEF COMPLIANCE OFFICER) sold 3,500 shares at $32.29 per share price.

First NBC Bank Holding Company is a bank holding company. The Company offers a range of financial services through its wholly owned banking subsidiary First NBC Bank. It serves its customers located in the Central Business District of New Orleans and the Mississippi Gulf Coast. The Company’s primary focus is on commercial real estate and commercial lending. Its loans include construction commercial real estate consumer real estate commercial and industrial and consumer. The securities portfolio consists primarily of the United States Government agency obligations mortgage-backed securities and municipal securities although the Company also holds corporate bonds. Its securities consist of investment securities available for sale and investment securities held to maturity. The Company’s primary source of funding for its loans is deposits which include noninterest-bearing demand NOW accounts money market accounts savings deposits and certificates of deposit.

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