FB Financial (NYSE:FBK) Receives “Market Perform” Rating from Keefe, Bruyette & Woods

FB Financial (NYSE:FBK)‘s stock had its “market perform” rating restated by equities researchers at Keefe, Bruyette & Woods in a research report issued on Wednesday, Benzinga reports. They currently have a $38.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 5.64% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Stephens lowered their price target 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. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $41.00 in a research note on Tuesday. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $40.50 in a report on Tuesday. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, FB Financial has an average rating of “Hold” and a consensus target price of $39.43.

FB Financial Stock Down 0.5 %

NYSE FBK traded down $0.18 during trading on Wednesday, hitting $35.97. The stock had a trading volume of 159,567 shares, compared to its average volume of 132,473. FB Financial has a twelve month low of $24.34 and a twelve month high of $41.00. The company has a market capitalization of $1.69 billion, a PE ratio of 15.11 and a beta of 1.15. The firm has a 50 day moving average price of $35.96 and a 200 day moving average price of $35.11.

FB Financial (NYSE:FBK) last announced its quarterly 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 firm had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. During the same period in the prior year, the company posted $0.85 earnings per share. On average, sell-side analysts anticipate that FB Financial will post 2.84 earnings per share for the current year.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 3,000 shares of FB Financial stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $36.35 per share, with a total value of $72,700.00. Following the purchase, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James W. Ayers bought 3,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the purchase, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. Insiders purchased 7,000 shares of company stock worth $256,830 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of FB Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of FB Financial by 570.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after buying an additional 833 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of FB Financial in the 3rd quarter worth $31,000. GAMMA Investing LLC acquired a new position in shares of FB Financial in the 4th quarter worth $43,000. Point72 Hong Kong Ltd grew its holdings in shares of FB Financial by 413.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 1,301 shares during the last quarter. Finally, Point72 Middle East FZE grew its holdings in shares of FB Financial by 111.6% in the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 876 shares during the last quarter. 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.