FB Financial (NYSE:FBK) Stock Rating Lowered by StockNews.com

FB Financial (NYSE:FBK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Hovde Group raised their target price on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Stephens reiterated an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.80.

FB Financial Price Performance

NYSE:FBK traded up $1.45 during mid-day trading on Friday, hitting $55.77. The company’s stock had a trading volume of 235,559 shares, compared to its average volume of 172,831. The business’s fifty day moving average is $47.84 and its two-hundred day moving average is $43.10. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 24.35 and a beta of 1.12. FB Financial has a 1 year low of $30.01 and a 1 year high of $56.70.

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

Insider Activity

In other news, major shareholder James W. Ayers purchased 500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the transaction, the insider now owns 10,906,841 shares of the company’s stock, valued at $556,248,891. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other FB Financial news, major shareholder James W. Ayers bought 1,500 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the purchase, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder James W. Ayers purchased 500 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $51.00 per share, with a total value of $25,500.00. Following the completion of the transaction, the insider now directly owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 10,000 shares of company stock worth $489,910 over the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of FB Financial by 73.6% during the 1st quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 7,643 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after buying an additional 398 shares during the period. Empowered Funds LLC grew its stake in shares of FB Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 122,390 shares of the financial services provider’s stock valued at $4,609,000 after buying an additional 9,242 shares during the period. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the 1st quarter valued at approximately $165,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in FB Financial by 2.4% in the first quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 468 shares during the last quarter. 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.