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

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

FBK has been the subject of several other reports. Stephens reduced their price target on 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. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial has an average rating of “Hold” and an average target price of $39.43.

FB Financial Stock Down 1.4 %

FBK opened at $35.64 on Tuesday. FB Financial has a 52-week low of $24.34 and a 52-week high of $41.00. The stock has a market cap of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15. The business has a fifty day moving average of $35.96 and a 200 day moving average of $35.11.

FB Financial (NYSE:FBK) last released its quarterly 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. The firm had revenue of $116.43 million during the quarter, compared to analyst estimates 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 previous year, the company posted $0.85 EPS. Equities analysts anticipate that FB Financial will post 2.84 EPS for the current fiscal year.

Insider Activity at FB Financial

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

Institutional Trading of FB Financial

Several large investors have recently added to or reduced their stakes in FBK. Citadel Advisors LLC boosted its stake in shares of FB Financial by 0.7% in the second quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock worth $1,378,000 after buying an additional 249 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in FB Financial by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 278 shares in the last quarter. American International Group Inc. boosted its position in FB Financial by 1.6% during the second quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 314 shares in the last quarter. Mariner LLC boosted its position in FB Financial by 1.6% during the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 323 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in FB Financial by 15.2% during the second quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other 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.