StockNews.com Upgrades FB Financial (NYSE:FBK) to “Hold”

FB Financial (NYSE:FBKGet Free Report) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

A number of other brokerages have also weighed in on FBK. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $41.50 to $40.00 in a research report on Wednesday, January 17th. Stephens lowered their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Finally, Janney Montgomery Scott raised shares of FB Financial from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $34.00 to $35.50 in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $36.58.

Check Out Our Latest Report on FB Financial

FB Financial Price Performance

NYSE FBK traded up $0.81 during mid-day trading on Monday, reaching $37.13. The stock had a trading volume of 121,372 shares, compared to its average volume of 149,154. FB Financial has a 1 year low of $24.34 and a 1 year high of $41.00. The stock has a market cap of $1.74 billion, a PE ratio of 14.45 and a beta of 1.17. The company has a fifty day moving average price of $38.17 and a 200 day moving average price of $33.55.

FB Financial (NYSE:FBKGet Free Report) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The business had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, equities research analysts expect that FB Financial will post 2.84 earnings per share for the current year.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were purchased at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the acquisition, the insider now owns 10,881,841 shares in the company, valued at approximately $415,686,326.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its stake in shares of FB Financial by 570.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 833 shares during the period. Lazard Asset Management LLC acquired a new position in FB Financial during the third quarter valued at approximately $31,000. First Horizon Advisors Inc. lifted its position in FB Financial by 42.7% during the second quarter. First Horizon Advisors Inc. now owns 1,436 shares of the financial services provider’s stock valued at $40,000 after buying an additional 430 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of FB Financial during the fourth quarter worth $43,000. Finally, Point72 Middle East FZE increased its stake in FB Financial by 111.6% during the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 876 shares during the last quarter. 63.91% of the stock is owned by hedge funds and other institutional investors.

FB Financial Company Profile

(Get Free Report)

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.

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Analyst Recommendations for FB Financial (NYSE:FBK)

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