Keefe, Bruyette & Woods Increases FB Financial (NYSE:FBK) Price Target to $50.00

FB Financial (NYSE:FBK) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $48.00 to $50.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 0.10% from the company’s current price.

A number of other research firms also recently issued reports on FBK. JPMorgan Chase & Co. decreased their price objective on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Stephens reiterated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. Finally, Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, FB Financial currently has a consensus rating of “Hold” and an average price target of $43.17.

FB Financial Stock Performance

Shares of NYSE FBK opened at $49.95 on Wednesday. FB Financial has a 52-week low of $27.75 and a 52-week high of $51.40. The firm has a 50 day moving average price of $46.31 and a two-hundred day moving average price of $41.51. The stock has a market cap of $2.35 billion, a P/E ratio of 20.99 and a beta of 1.13.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. 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 firm earned $0.71 earnings per share. Analysts predict that FB Financial will post 3.25 earnings per share for the current fiscal year.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of FB Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after acquiring an additional 49,313 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FB Financial by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock worth $8,057,000 after purchasing an additional 3,630 shares in the last quarter. Wasatch Advisors LP increased its position in shares of FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of FB Financial by 7.3% during the first quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 13,306 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of FB Financial by 73.6% during the first quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 7,643 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

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.