FB Financial (NYSE:FBK) Price Target Raised to $60.00 at Piper Sandler

FB Financial (NYSE:FBK) had its target price increased by analysts at Piper Sandler from $58.00 to $60.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 29.17% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens decreased their price target on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $60.00 to $59.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and a consensus target price of $55.40.

FB Financial Trading Up 0.7 %

Shares of FB Financial stock traded up $0.31 during trading hours on Wednesday, hitting $46.45. 71,095 shares of the company were exchanged, compared to its average volume of 156,785. The business has a 50-day moving average of $49.81 and a 200-day moving average of $50.84. FB Financial has a 1 year low of $33.35 and a 1 year high of $58.88. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 18.81 and a beta of 1.16.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, research analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were purchased at an average cost of $51.40 per share, with a total value of $102,800.00. Following the purchase, the insider now owns 10,913,841 shares in the company, valued at approximately $560,971,427.40. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 14,000 shares of company stock worth $710,180 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new position in shares of FB Financial during the 3rd quarter worth approximately $47,000. GAMMA Investing LLC raised its holdings in shares of FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 314 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of FB Financial by 810.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 997 shares in the last quarter. KBC Group NV boosted its stake in shares of FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 555 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in FB Financial during the 3rd quarter worth about $110,000. Hedge funds and other 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.