Several other equities analysts have also issued reports on the company. Stephens began coverage on FB Financial in a research note on Friday, November 6th. They set an overweight rating on the stock. Keefe, Bruyette & Woods downgraded FB Financial from an outperform rating to a market perform rating and set a $30.00 price objective for the company. in a report on Thursday, October 29th. JPMorgan Chase & Co. downgraded FB Financial from a neutral rating to an underweight rating and dropped their price objective for the company from $28.00 to $27.00 in a report on Wednesday, October 28th. Zacks Investment Research upgraded FB Financial from a hold rating to a strong-buy rating and set a $40.00 price objective for the company in a report on Monday, January 4th. Finally, Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and upped their price objective for the company from $27.00 to $32.00 in a report on Thursday, October 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $31.21.
Shares of FBK stock opened at $36.97 on Tuesday. The firm has a market cap of $1.74 billion, a P/E ratio of 29.34 and a beta of 1.26. The stock’s 50-day moving average is $34.12 and its two-hundred day moving average is $28.65. FB Financial has a fifty-two week low of $14.38 and a fifty-two week high of $39.20.
FB Financial (NYSE:FBK) last issued its quarterly earnings data on Saturday, October 31st. The financial services provider reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $1.04. FB Financial had a return on equity of 12.36% and a net margin of 7.27%. The business had revenue of $165.85 million for the quarter, compared to analyst estimates of $135.80 million. As a group, sell-side analysts forecast that FB Financial will post 2.95 earnings per share for the current fiscal year.
In related news, Director James L. Exum sold 2,352 shares of the stock in a transaction dated Friday, December 11th. The stock was sold at an average price of $34.00, for a total transaction of $79,968.00. Following the completion of the transaction, the director now directly owns 4,073 shares in the company, valued at $138,482. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 45.20% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Sailer Financial LLC bought a new stake in shares of FB Financial in the 3rd quarter worth about $26,000. Pinnacle Financial Partners Inc. acquired a new stake in FB Financial during the 3rd quarter worth approximately $26,000. Bank of Montreal Can increased its position in FB Financial by 2,067.7% during the 2nd quarter. Bank of Montreal Can now owns 1,409 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 1,344 shares in the last quarter. Provident Wealth Management LLC acquired a new stake in FB Financial during the 3rd quarter worth approximately $50,000. Finally, UBS Group AG increased its position in FB Financial by 47.6% during the 2nd quarter. UBS Group AG now owns 2,856 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 921 shares in the last quarter. Institutional investors and hedge funds own 65.54% 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 businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
Read More: Dividend Reinvestment Plan (DRIP)
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