FB Financial (NYSE:FBK) Price Target Raised to $58.00 at Keefe, Bruyette & Woods

FB Financial (NYSE:FBK) had its target price raised by research analysts at Keefe, Bruyette & Woods from $50.00 to $58.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 3.74% from the stock’s previous close.

Several other equities research analysts have also issued reports on FBK. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a report on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.20.

FB Financial Stock Down 0.8 %

FBK traded down $0.44 during trading on Wednesday, hitting $55.91. The company’s stock had a trading volume of 16,785 shares, compared to its average volume of 146,980. FB Financial has a one year low of $33.35 and a one year high of $58.88. The business’s 50 day simple moving average is $51.02 and its 200-day simple moving average is $45.30. The firm has a market cap of $2.61 billion, a PE ratio of 24.41 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the previous year, the business earned $0.71 earnings per share. Equities research analysts expect that FB Financial will post 3.38 EPS for the current fiscal year.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average price of $48.17 per share, with a total value of $96,340.00. Following the acquisition, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the sale, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 13,000 shares of company stock valued at $658,460. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of FB Financial by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 1,424 shares during the period. Raymond James & Associates lifted its stake in shares of FB Financial by 0.9% during the 2nd quarter. Raymond James & Associates now owns 123,362 shares of the financial services provider’s stock worth $4,815,000 after acquiring an additional 1,086 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in FB Financial by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 412 shares during the period. Louisiana State Employees Retirement System grew its position in FB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 300 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of FB Financial by 0.4% during the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock worth $4,346,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

About FB Financial

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.