FB Financial (NYSE:FBK) Stock Rating Lowered by StockNews.com

FB Financial (NYSE:FBK) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other analysts have also recently commented on the company. Stephens restated an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Hovde Group lifted their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Stock Performance

Shares of NYSE FBK traded up $0.47 during trading on Wednesday, reaching $50.41. The stock had a trading volume of 137,135 shares, compared to its average volume of 145,568. The stock has a market cap of $2.37 billion, a PE ratio of 21.18 and a beta of 1.13. FB Financial has a one year low of $28.79 and a one year high of $51.63. The firm’s 50 day moving average price is $47.23 and its two-hundred day moving average price is $42.38.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, research analysts expect that FB Financial will post 3.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Monday, October 28th. The stock was purchased at an average cost of $50.29 per share, for a total transaction of $100,580.00. Following the acquisition, the insider now owns 10,904,341 shares in the company, valued at $548,379,308.89. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were bought at an average price of $50.29 per share, for a total transaction of $100,580.00. Following the acquisition, the insider now owns 10,904,341 shares in the company, valued at $548,379,308.89. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James W. Ayers acquired 1,500 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now directly owns 10,892,341 shares in the company, valued at $540,042,266.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 9,500 shares of company stock valued at $464,410 over the last three months. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in FBK. nVerses Capital LLC acquired a new stake in FB Financial during the 3rd quarter valued at $84,000. SG Americas Securities LLC bought a new position in shares of FB Financial in the first quarter valued at about $165,000. Renaissance Technologies LLC acquired a new position in FB Financial during the 2nd quarter worth about $217,000. ProShare Advisors LLC grew its holdings in FB Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 494 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 65.40% 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 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.