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

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FB Financial (NYSE:FBK) was upgraded by stock analysts at Stephens from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, Marketbeat.com reports. The firm presently has a $42.00 price objective on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 14.22% from the company’s current price.

A number of other analysts have also issued reports on FBK. Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a research report on Tuesday, June 25th. ValuEngine lowered shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. Finally, TheStreet lowered shares of Tribune Publishing from a “c-” rating to a “d+” rating in a research report on Monday, May 20th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.75.

NYSE FBK traded up $0.21 during mid-day trading on Tuesday, reaching $36.77. 77,435 shares of the stock were exchanged, compared to its average volume of 68,378. FB Financial has a 1-year low of $30.33 and a 1-year high of $44.69. The firm’s fifty day simple moving average is $35.74. The firm has a market capitalization of $1.14 billion, a PE ratio of 14.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.92 and a quick ratio of 0.86.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, April 22nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.06. FB Financial had a net margin of 21.24% and a return on equity of 12.44%. The firm had revenue of $82.06 million for the quarter, compared to analyst estimates of $80.29 million. On average, analysts forecast that FB Financial will post 2.85 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Denali Advisors LLC acquired a new position in shares of FB Financial in the 2nd quarter valued at $48,000. First Trust Advisors LP raised its stake in shares of FB Financial by 87.7% in the 1st quarter. First Trust Advisors LP now owns 72,245 shares of the financial services provider’s stock valued at $2,295,000 after buying an additional 33,763 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of FB Financial by 51.9% in the 1st quarter. Wasatch Advisors Inc. now owns 470,263 shares of the financial services provider’s stock valued at $14,936,000 after buying an additional 160,699 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of FB Financial by 9.1% in the 1st quarter. New York State Common Retirement Fund now owns 198,454 shares of the financial services provider’s stock valued at $6,303,000 after buying an additional 16,624 shares in the last quarter. Finally, Penn Capital Management Co. Inc. raised its stake in shares of FB Financial by 2.6% in the 1st quarter. Penn Capital Management Co. Inc. now owns 439,181 shares of the financial services provider’s stock valued at $13,948,000 after buying an additional 11,073 shares in the last quarter. Institutional investors own 52.83% of the company’s stock.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

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