FB Financial (NYSE:FBK) Raised to “Hold” at StockNews.com

FB Financial (NYSE:FBK) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts have also recently weighed in on FBK. Stephens decreased their price objective on FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $40.00 to $40.50 in a research note on Tuesday. Finally, Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $38.00 to $41.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, FB Financial has a consensus rating of “Hold” and a consensus price target of $39.43.

FB Financial Stock Down 1.4 %

NYSE:FBK opened at $35.64 on Tuesday. The company has a market cap of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15. FB Financial has a twelve month low of $24.34 and a twelve month high of $41.00. The business has a 50 day moving average price of $35.96 and a two-hundred day moving average price of $35.11.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.34%. The business had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, analysts anticipate that FB Financial will post 2.84 earnings per share for the current fiscal year.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction that occurred on Monday, January 22nd. The stock was acquired at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the purchase, the insider now directly owns 10,881,841 shares of the company’s stock, valued at approximately $415,686,326.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. Insiders acquired 7,000 shares of company stock valued at $256,830 in the last quarter. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FB Financial

A number of institutional investors have recently modified their holdings of FBK. JPMorgan Chase & Co. boosted its holdings in FB Financial by 9.6% in the 1st quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock valued at $4,210,000 after purchasing an additional 8,263 shares during the period. American Century Companies Inc. grew its position in FB Financial by 20.4% during the first quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock worth $1,908,000 after buying an additional 7,283 shares in the last quarter. Citigroup Inc. increased its stake in FB Financial by 16.3% during the 1st quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock worth $1,404,000 after acquiring an additional 4,442 shares during the period. MetLife Investment Management LLC raised its holdings in FB Financial by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 6,267 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of FB Financial by 2.9% during the 1st quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock valued at $4,129,000 after acquiring an additional 2,589 shares during the period. 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.