StockNews.com Downgrades FB Financial (NYSE:FBK) to Sell

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

Several other equities research analysts have also recently weighed in on FBK. Stephens dropped their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price target on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. Finally, Piper Sandler dropped their price objective on FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial presently has an average rating of “Hold” and an average price target of $53.80.

FB Financial Trading Up 1.2 %

Shares of FBK opened at $43.05 on Monday. FB Financial has a 12-month low of $34.50 and a 12-month high of $58.88. The company has a market cap of $2.01 billion, a PE ratio of 17.43 and a beta of 0.92. The stock has a 50-day moving average price of $44.93 and a 200-day moving average price of $50.02.

FB Financial (NYSE:FBK) last released its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The company had revenue of $130.67 million during the quarter, compared to the consensus estimate of $132.28 million. During the same quarter in the previous year, the company posted $0.85 EPS. As a group, analysts predict that FB Financial will post 3.64 earnings per share for the current year.

Insider Activity

In other FB Financial news, Director James W. Iv Cross bought 7,200 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was acquired at an average price of $40.49 per share, with a total value of $291,528.00. Following the completion of the purchase, the director now owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the transaction, the insider now owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. This represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 15,200 shares of company stock worth $701,468 in the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FBK. JPMorgan Chase & Co. increased its holdings in shares of FB Financial by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock valued at $3,134,000 after acquiring an additional 4,918 shares in the last quarter. SG Americas Securities LLC increased its stake in FB Financial by 39.7% during the 4th quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 5,642 shares in the last quarter. GAMMA Investing LLC raised its holdings in FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after buying an additional 314 shares during the last quarter. Barclays PLC lifted its stake in shares of FB Financial by 58.3% in the third quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock worth $4,415,000 after buying an additional 34,633 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of FB Financial by 136.2% during the fourth quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider’s stock valued at $855,000 after buying an additional 9,570 shares during 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.