FB Financial (NYSE:FBK) Raised to Hold at StockNews.com

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

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods lifted their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $50.20.

FB Financial Price Performance

NYSE:FBK opened at $52.38 on Wednesday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 21.21 and a beta of 1.16. FB Financial has a one year low of $33.35 and a one year high of $58.88. The company’s 50-day simple moving average is $53.63 and its 200 day simple moving average is $49.18.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.52% and a net margin of 15.18%. On average, equities research analysts expect that FB Financial will post 3.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $48.46 per share, with a total value of $96,920.00. Following the completion of the purchase, the insider now directly owns 10,917,841 shares of the company’s stock, valued at approximately $529,078,574.86. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 13,500 shares of company stock worth $698,590. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in FB Financial by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 204,983 shares of the financial services provider’s stock valued at $8,001,000 after acquiring an additional 4,364 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after purchasing an additional 106,553 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of FB Financial in the 2nd quarter worth approximately $217,000. Mercer Global Advisors Inc. ADV grew its position in FB Financial by 7.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,141 shares of the financial services provider’s stock valued at $396,000 after buying an additional 722 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in FB Financial by 28.4% during the second quarter. Hsbc Holdings PLC now owns 14,892 shares of the financial services provider’s stock valued at $576,000 after buying an additional 3,294 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

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.