FB Financial (NYSE:FBK) Rating Increased to Overweight at Piper Sandler

FB Financial (NYSE:FBK) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $41.00 target price on the financial services provider’s stock, up from their previous target price of $38.00. Piper Sandler’s price objective suggests a potential upside of 15.04% from the company’s previous close.

Other research analysts have also issued reports about the company. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $40.00 to $40.50 in a research report on Tuesday. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Stephens dropped their price target on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.43.

FB Financial Stock Down 1.4 %

Shares of FB Financial stock opened at $35.64 on Tuesday. The stock’s fifty day moving average is $35.96 and its 200-day moving average is $35.11. The firm has a market capitalization of $1.67 billion, a PE ratio of 14.97 and a beta of 1.15. FB Financial has a 12-month low of $24.34 and a 12-month high of $41.00.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $116.43 million for 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 firm earned $0.85 earnings per share. Analysts expect that FB Financial will post 2.84 EPS for the current year.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was purchased at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the purchase, the insider now directly owns 10,881,841 shares in the company, valued at $415,686,326.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder James W. Ayers acquired 3,000 shares of FB Financial stock in a transaction on Tuesday, February 13th. The stock was bought at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Monday, January 22nd. The stock was purchased at an average price of $38.20 per share, with a total value of $76,400.00. Following the transaction, the insider now directly 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 acquired a total of 7,000 shares of company stock worth $256,830 in the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of FB Financial by 1.3% in the 2nd quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock worth $176,641,000 after buying an additional 78,805 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of FB Financial by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after buying an additional 348,790 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of FB Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after buying an additional 49,313 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after buying an additional 40,394 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its holdings in FB Financial by 17.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock valued at $70,169,000 after purchasing an additional 237,256 shares in the last quarter. 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.