FB Financial (NYSE:FBK) Now Covered by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage on FB Financial (NYSE:FBK) with an "overweight" rating and a price target of $61.00, indicating a potential upside of 14.64% from the current stock price.
• FB Financial reported earnings of $0.88 per share, missing estimates by $0.01, with revenues falling below analyst expectations at $76.86 million.
• Multiple hedge funds have significantly increased their stakes in FB Financial, with a reported ownership of 65.40% from institutional investors.

Analysts at Cantor Fitzgerald started coverage on shares of FB Financial (NYSE:FBK - Get Free Report) in a research report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an "overweight" rating and a $61.00 price target on the financial services provider's stock. Cantor Fitzgerald's target price points to a potential upside of 15.01% from the stock's current price.

Several other research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Wall Street Zen downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, FB Financial presently has an average rating of "Buy" and a consensus target price of $58.80.

FB Financial Stock Down 0.4%

Shares of FB Financial stock traded down $0.20 during trading on Wednesday, hitting $53.04. The stock had a trading volume of 182,689 shares, compared to its average volume of 305,851. The stock has a 50 day simple moving average of $50.25 and a 200 day simple moving average of $46.51. The company has a market capitalization of $2.86 billion, a PE ratio of 27.48 and a beta of 0.93. FB Financial has a 1 year low of $38.83 and a 1 year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. As a group, equities analysts expect that FB Financial will post 3.64 earnings per share for the current fiscal year.

Institutional Trading of FB Financial

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in FB Financial in the first quarter valued at approximately $33,000. EverSource Wealth Advisors LLC lifted its stake in FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 795 shares during the last quarter. GAMMA Investing LLC lifted its stake in FB Financial by 36.7% in the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 370 shares during the last quarter. CWM LLC lifted its stake in FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 611 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 290 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.