FB Financial (NYSE:FBK) Stock Rating Upgraded by Wall Street Zen

FB Financial (NYSE:FBK) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other research firms also recently issued reports on FBK. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Stephens cut their price target on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their target price on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler reduced their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.80.

FB Financial Stock Down 0.9%

Shares of NYSE FBK opened at $43.60 on Thursday. FB Financial has a twelve month low of $34.50 and a twelve month high of $58.88. The business has a fifty day simple moving average of $43.87 and a two-hundred day simple moving average of $49.50. The firm has a market cap of $2.00 billion, a PE ratio of 17.65 and a beta of 0.93.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The company had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. During the same period in the prior year, the firm earned $0.85 earnings per share. On average, research analysts expect that FB Financial will post 3.64 earnings per share for the current year.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the purchase, the insider now owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. This trade represents a 0.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James W. Iv Cross purchased 7,200 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were bought at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the purchase, the director now directly owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in FB Financial in the 1st quarter worth $33,000. Sterling Capital Management LLC raised its stake in FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 997 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 370 shares during the period. CWM LLC lifted its holdings in shares of FB Financial by 58.2% during the first quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 611 shares during the period. Finally, KBC Group NV lifted its holdings 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 worth $108,000 after purchasing an additional 555 shares during the period. Institutional investors and hedge funds 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.