FB Financial (NYSE:FBK) Stock Moved Down to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded FB Financial from “hold” to “sell,” though broader analyst sentiment remains positive: MarketBeat reported an average “buy” rating and a $64.43 price target.
• FB Financial reported quarterly EPS of $1.21, matching expectations, but revenue of $175.62 million fell short of the $181.56 million forecast.
• Director Orrin Ingram II bought 29,081 shares at an average price of $52.88, increasing his stake by 30.51%.

FB Financial (NYSE:FBK - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings upgraded FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 9th. Benchmark raised their price target on FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods lowered their price target on FB Financial from $65.00 to $64.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $65.00 target price on shares of FB Financial in a research report on Wednesday, October 14th. Finally, Truist Financial set a $64.00 price objective on FB Financial in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $64.43.

FB Financial Trading Down 0.1%

NYSE FBK opened at $54.23 on Friday. The business has a fifty day simple moving average of $53.67 and a 200 day simple moving average of $55.31. The firm has a market capitalization of $2.71 billion, a P/E ratio of 11.87 and a beta of 0.97. FB Financial has a 12 month low of $49.24 and a 12 month high of $62.65.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, meeting the consensus estimate of $1.21. FB Financial had a net margin of 22.62% and a return on equity of 12.32%. The firm had revenue of $175.62 million during the quarter, compared to analysts' expectations of $181.56 million. As a group, sell-side analysts predict that FB Financial will post 4.65 EPS for the current fiscal year.

Insider Activity at FB Financial

In other FB Financial news, Director Orrin Ingram, II purchased 29,081 shares of the firm's stock in a transaction dated Tuesday, October 20th. The shares were bought at an average price of $52.88 per share, for a total transaction of $1,537,803.28. Following the purchase, the director owned 124,391 shares in the company, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new stake in shares of FB Financial in the second quarter valued at about $1,202,000. Penn Capital Management Company LLC lifted its holdings in shares of FB Financial by 21.2% during the 2nd quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider's stock valued at $21,456,000 after buying an additional 67,656 shares during the last quarter. Jupiter Topco LLC acquired a new position in FB Financial during the second quarter worth $21,338,000. Dimensional Fund Advisors LP increased its stake in shares of FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider's stock worth $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of FB Financial during the second quarter worth about $39,460,000. Institutional investors own 65.40% of the company's stock.

About FB Financial

FB Financial Corporation NYSE: FBK is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.

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