FB Financial (NYSE:FBK) Cut to “Market Perform” at Hovde Group

FB Financial (NYSE:FBK) was downgraded by analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research note issued on Monday, Marketbeat reports. They presently have a $60.00 price target on the financial services provider’s stock. Hovde Group’s price target indicates a potential upside of 7.47% from the company’s current price.

Several other analysts have also issued reports on FBK. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.60.

FB Financial Stock Performance

Shares of FB Financial stock opened at $55.83 on Monday. FB Financial has a 52 week low of $32.09 and a 52 week high of $58.88. The stock has a 50 day moving average price of $48.80 and a two-hundred day moving average price of $43.84. The stock has a market capitalization of $2.61 billion, a PE ratio of 24.38 and a beta of 1.12.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) 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 analysts’ expectations of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter in the previous year, the firm earned $0.71 earnings per share. Research analysts forecast that FB Financial will post 3.38 EPS for the current year.

Insider Transactions at FB Financial

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This represents a 8.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Monday, October 21st. The shares were acquired at an average cost of $48.17 per share, with a total value of $96,340.00. Following the transaction, the insider now directly owns 10,894,341 shares in the company, valued at $524,780,405.97. The trade was a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 13,000 shares of company stock worth $658,460. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in FB Financial by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after purchasing an additional 7,021 shares during the last quarter. Barclays PLC raised its holdings in FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock worth $4,415,000 after purchasing an additional 34,633 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in FB Financial during the third quarter valued at about $346,000. Jane Street Group LLC raised its holdings in FB Financial by 120.6% during the third quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock valued at $3,355,000 after acquiring an additional 39,086 shares during the period. Finally, Stifel Financial Corp raised its holdings in FB Financial by 0.4% during the third quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock valued at $3,786,000 after acquiring an additional 356 shares during the period. Hedge funds and other 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.