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

FB Financial (NYSE:FBK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $38.00 to $41.00 in a research report on Tuesday. Stephens lowered their price target on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Finally, Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $40.00 to $40.50 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, FB Financial currently has a consensus rating of “Hold” and a consensus target price of $39.43.

FB Financial Stock Down 1.4 %

Shares of FBK stock opened at $35.64 on Tuesday. The stock has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $35.11. FB Financial has a fifty-two week low of $24.34 and a fifty-two week high of $41.00. The stock has a market capitalization of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. The firm had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.34%. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that FB Financial will post 2.84 earnings per share for the current year.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were acquired at an average price of $38.20 per share, with a total value 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 Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. In the last quarter, insiders bought 7,000 shares of company stock valued at $256,830. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently modified their holdings of FBK. T. Rowe Price Investment Management Inc. grew its stake in FB Financial by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock valued at $186,833,000 after buying an additional 348,790 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of FB Financial in the first quarter worth about $13,000,000. Heartland Advisors Inc. acquired a new position in shares of FB Financial during the 4th quarter worth about $11,237,000. Wasatch Advisors Inc. increased its position in FB Financial by 17.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after buying an additional 237,256 shares during the period. Finally, Wasatch Advisors LP lifted its holdings in shares of FB Financial by 26.3% during the fourth quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock worth $42,243,000 after buying an additional 220,835 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

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.