First NBC Bank Holding Company (FNBC) is Upgraded by Hovde Group to Outperform, Price Target at $20

First NBC Bank Holding Company (FNBC) was Upgraded by Hovde Group to ” Outperform” and the brokerage firm has set the Price Target at $20. Earlier the firm had a rating of “Market Perform ” on the company shares. Hovde Group advised their investors in a research report released on Jun 13, 2016.

Many Wall Street Analysts have commented on First NBC Bank Holding Company. FBR Capital Initiated First NBC Bank Holding Company on Mar 31, 2016 to “Mkt Perform”, Price Target of the shares are set at $23.Shares were Reiterated by Hovde Group on Mar 17, 2016 to “Market Perform” and Lowered the Price Target to $ 21 from a previous price target of $27 .

First NBC Bank Holding Company closed down -0.36 points or -2.05% at $17.2 with 94,833 shares getting traded on Friday. Post opening the session at $17.42, the shares hit an intraday low of $17.05 and an intraday high of $17.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 14, 2016, John F. French (director) purchased 2,000 shares at $25.20 per share price. According to the SEC, 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.

First NBC Bank Holding Company

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