FB Financial (NYSE:FBK) Upgraded to “Hold” at StockNews.com

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

Several other brokerages have also recently issued reports on FBK. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $40.50 in a report on Tuesday. Stephens dropped their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Finally, Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $41.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, FB Financial presently has an average rating of “Hold” and an average price target of $37.67.

FB Financial Trading Up 4.5 %

FBK stock traded up $1.56 on Tuesday, hitting $36.19. The company had a trading volume of 493,764 shares, compared to its average volume of 132,359. FB Financial has a 12-month low of $24.34 and a 12-month high of $41.00. The stock’s 50-day simple moving average is $35.96 and its 200 day simple moving average is $35.11. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.15.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. The company had revenue of $116.43 million for the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter last year, the company posted $0.85 earnings per share. Research analysts forecast that FB Financial will post 2.84 earnings per share for the current year.

Insider Transactions at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were bought at an average price of $35.29 per share, for a total transaction of $70,580.00. Following the purchase, the insider now owns 10,877,841 shares in the company, valued at $383,879,008.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder James W. Ayers purchased 3,000 shares of FB Financial stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction on Wednesday, January 17th. The stock was bought at an average price of $35.29 per share, for a total transaction of $70,580.00. Following the completion of the acquisition, the insider now owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The disclosure for this purchase can be found here. Insiders have acquired 9,000 shares of company stock worth $327,410 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its holdings in 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 valued at $30,000 after acquiring an additional 833 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of FB Financial in the 3rd quarter worth about $31,000. GAMMA Investing LLC bought a new stake in shares of FB Financial in the 4th quarter worth about $43,000. Point72 Hong Kong Ltd increased 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 buying an additional 1,301 shares during the last quarter. Finally, Point72 Middle East FZE increased 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 buying an additional 876 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

About FB Financial

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.