FB Financial’s (FBK) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

FB Financial (NYSE:FBK)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $65.00 price objective on the financial services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 27.43% from the stock’s previous close.

FBK has been the subject of several other reports. Weiss Ratings upgraded FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Raymond James Financial upped their price target on shares of FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th. Finally, Benchmark upped their price target on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, FB Financial has a consensus rating of “Buy” and a consensus price target of $64.57.

FB Financial Stock Up 0.6%

FB Financial stock traded up $0.29 during trading hours on Wednesday, hitting $51.01. The stock had a trading volume of 255,019 shares, compared to its average volume of 370,632. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 13.61 and a beta of 0.98. FB Financial has a one year low of $49.24 and a one year high of $62.65. The business’s 50 day simple moving average is $56.07 and its 200-day simple moving average is $55.30.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. The firm had revenue of $175.62 million during the quarter, compared to the consensus estimate of $181.57 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts anticipate that FB Financial will post 4.67 EPS for the current fiscal year.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in FB Financial by 9.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,562 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 216 shares during the period. Versant Capital Management Inc increased its position in FB Financial by 385.0% in the 3rd quarter. Versant Capital Management Inc now owns 2,294 shares of the financial services provider’s stock valued at $119,000 after acquiring an additional 1,821 shares during the period. Engineers Gate Manager LP acquired a new position in FB Financial in the 2nd quarter valued at approximately $410,000. Arizona State Retirement System increased its position in FB Financial by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 12,159 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 395 shares during the period. Finally, Nykredit A S acquired a new stake in shares of FB Financial during the second quarter worth $37,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting FB Financial

Here are the key news stories impacting FB Financial this week:

• Positive Sentiment: Analyst support remains strong. Cantor Fitzgerald reaffirmed its Overweight rating and set a $65 price target, while Raymond James maintained a Strong Buy rating with a $62 target, indicating substantial potential upside from recent levels. Raymond James adjusts FB Financial price target
• Positive Sentiment: FB Financial reported adjusted third-quarter EPS of $1.21, matching consensus and rising from $1.07 a year earlier. Net income increased to $60.2 million, while loans and deposits grew at annualized rates of approximately 9.7% and 8.8%, respectively. FB Financial third-quarter results
• Neutral Sentiment: The bank repurchased 545,214 shares and issued $125 million of subordinated debt, supporting capital flexibility. Credit quality was described as strong, although investors will continue to monitor funding costs and loan performance.
• Negative Sentiment: Quarterly revenue of roughly $174.5 million to $175.6 million fell short of estimates near $181.6 million. Noninterest income also declined sequentially, adding to concerns about the company’s earnings trajectory. FB Financial reports third-quarter EPS and revenue
• Negative Sentiment: Net interest margin narrowed to 3.83% from 3.95% as deposit competition increased funding costs. Management expects higher loan yields to provide some relief in the fourth quarter, but analysts say margin pressure tempers the near-term outlook. FB Financial margin pressure analysis

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a regional branch network and digital banking channels.

FirstBank’s offerings include personal and business deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, wealth management and mortgage banking services.