FB Financial (NYSE:FBK) Given New $58.00 Price Target at Stephens

FB Financial (NYSE:FBK) had its target price lowered by equities research analysts at Stephens from $65.00 to $58.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ price objective would indicate a potential upside of 25.17% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their price target 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. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Tuesday, March 11th. Finally, Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $60.00 to $59.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial has a consensus rating of “Hold” and a consensus price target of $55.00.

FB Financial Stock Up 0.4 %

NYSE FBK traded up $0.20 during mid-day trading on Wednesday, hitting $46.34. The stock had a trading volume of 55,742 shares, compared to its average volume of 155,637. The company has a 50 day simple moving average of $49.81 and a 200 day simple moving average of $50.84. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 18.78 and a beta of 1.16. FB Financial has a 52-week low of $33.35 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were acquired at an average cost of $50.26 per share, with a total value of $100,520.00. Following the completion of the transaction, the insider now owns 10,915,841 shares of the company’s stock, valued at approximately $548,630,168.66. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have acquired 14,000 shares of company stock valued at $710,180. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of large investors have recently bought and sold shares of FBK. JPMorgan Chase & Co. raised its position in shares of FB Financial by 293.8% in the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after buying an additional 196,172 shares during the period. Raymond James Financial Inc. purchased a new position in shares of FB Financial in the 4th quarter worth about $9,546,000. 12th Street Asset Management Company LLC lifted its stake in shares of FB Financial by 65.2% in the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock valued at $10,163,000 after purchasing an additional 77,885 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of FB Financial by 489.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider’s stock worth $3,642,000 after purchasing an additional 58,703 shares during the period. Finally, Nuveen Asset Management LLC increased its position in FB Financial by 29.0% during the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock worth $13,383,000 after purchasing an additional 58,402 shares in the last quarter. Hedge funds and other 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.