FB Financial (NYSE:FBK) Rating Increased to Outperform at Hovde Group

FB Financial (NYSE:FBK) was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $40.50 price objective on the financial services provider’s stock, up from their previous price objective of $40.00. Hovde Group’s target price points to a potential upside of 13.64% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Stephens reduced their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $39.43.

FB Financial Price Performance

NYSE:FBK opened at $35.64 on Tuesday. FB Financial has a one year low of $24.34 and a one year high of $41.00. The company has a market cap of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15. The firm’s fifty day moving average price is $35.96 and its two-hundred day moving average price is $35.11.

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

Insider Activity

In other news, major shareholder James W. Ayers bought 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, with a total value of $107,730.00. Following the transaction, the insider now owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder James W. Ayers bought 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, with a total value of $107,730.00. Following the transaction, the insider now owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average cost of $36.35 per share, with a total value of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. Insiders bought 7,000 shares of company stock valued at $256,830 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Trading of FB Financial

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in shares of FB Financial by 975.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock worth $319,000 after buying an additional 10,198 shares during the last quarter. Richard Bernstein Advisors LLC purchased a new position in shares of FB Financial in the 3rd quarter worth about $2,770,000. Illinois Municipal Retirement Fund purchased a new position in shares of FB Financial in the 3rd quarter worth about $602,000. Earnest Partners LLC boosted its holdings in shares of FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock worth $15,822,000 after buying an additional 34,601 shares during the last quarter. Finally, Wakefield Asset Management LLLP boosted its holdings in shares of FB Financial by 10.7% in the 4th quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 2,447 shares during the last quarter. 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.