Piper Sandler Has Lowered Expectations for FB Financial (NYSE:FBK) Stock Price

FB Financial (NYSE:FBK) had its price objective decreased by investment analysts at Piper Sandler from $60.00 to $58.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 43.02% from the stock’s previous close.

Other analysts have also issued research reports about the company. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Stephens cut their price target on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $53.80.

FB Financial Stock Up 0.2 %

Shares of NYSE:FBK opened at $40.56 on Thursday. The stock has a market cap of $1.89 billion, a PE ratio of 16.42 and a beta of 0.92. The company’s fifty day moving average is $46.33 and its 200 day moving average is $50.18. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. During the same quarter in the previous year, the business earned $0.85 earnings per share. Sell-side analysts anticipate that FB Financial will post 3.64 EPS for the current year.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the acquisition, the insider now owns 10,919,841 shares of the company’s stock, valued at approximately $573,946,842.96. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James W. Iv Cross bought 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average price of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 15,200 shares of company stock worth $701,468 over the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Trading of FB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 314 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 997 shares during the last quarter. KBC Group NV boosted its position in shares of FB Financial by 36.2% in the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 555 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of FB Financial in the 4th quarter worth approximately $206,000. Finally, Covenant Partners LLC bought a new position in FB Financial during the 4th quarter valued at approximately $211,000. 65.40% of the stock is owned by hedge funds and other 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.