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

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

FBK has been the topic of several other reports. Keefe, Bruyette & Woods upped their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a 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 target on the stock. in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.20.

FB Financial Stock Performance

FBK stock traded down $0.43 during midday trading on Wednesday, reaching $53.13. The stock had a trading volume of 154,736 shares, compared to its average volume of 160,703. The firm has a fifty day simple moving average of $53.70 and a two-hundred day simple moving average of $49.15. FB Financial has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a market cap of $2.48 billion, a PE ratio of 23.20 and a beta of 1.16.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. On average, sell-side analysts predict that FB Financial will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were bought at an average cost of $50.29 per share, with a total value of $100,580.00. Following the completion of the acquisition, the insider now owns 10,904,341 shares in the company, valued at approximately $548,379,308.89. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the transaction, the director now directly owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 15,500 shares of company stock valued at $794,850. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in shares of FB Financial during the third quarter valued at approximately $47,000. GAMMA Investing LLC raised its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 314 shares during the last quarter. nVerses Capital LLC acquired a new stake in FB Financial during the 3rd quarter worth $84,000. KBC Group NV boosted its stake in FB Financial by 36.2% during 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 during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of FB Financial during the third quarter worth $110,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.