FB Financial (NYSE:FBK) Raised to “Hold” at Wall Street Zen

FB Financial (NYSE:FBK) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods raised shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday. Finally, Piper Sandler increased their price objective on shares of FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Stock Performance

FBK opened at $52.15 on Friday. FB Financial has a twelve month low of $38.83 and a twelve month high of $60.51. The firm’s 50-day simple moving average is $53.94 and its 200-day simple moving average is $47.97. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 24.37 and a beta of 0.91.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The firm had revenue of $163.71 million for the quarter. As a group, sell-side analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after purchasing an additional 75,951 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of FB Financial in the 3rd quarter valued at approximately $48,674,000. Nuveen LLC acquired a new stake in shares of FB Financial in the 1st quarter valued at approximately $39,275,000. Millennium Management LLC raised its position in shares of FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after acquiring an additional 37,385 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of FB Financial by 1.1% in the 2nd quarter. Federated Hermes Inc. now owns 344,169 shares of the financial services provider’s stock valued at $15,591,000 after acquiring an additional 3,717 shares during the period. 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.