FB Financial (NYSE:FBK) Rating Increased to Hold at Wall Street Zen

FB Financial (NYSE:FBK - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Thursday.

Several other brokerages have also issued reports on FBK. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and cut their target price for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price target on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Stephens dropped their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Piper Sandler dropped their price target on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.80.

FB Financial Trading Down 0.9%

NYSE FBK traded down $0.41 during trading hours on Thursday, hitting $43.60. 258,923 shares of the company's stock traded hands, compared to its average volume of 177,728. The business's fifty day moving average price is $43.87 and its two-hundred day moving average price is $49.45. The firm has a market capitalization of $2.00 billion, a P/E ratio of 17.65 and a beta of 0.93. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same period in the previous year, the business posted $0.85 earnings per share. On average, sell-side analysts expect that FB Financial will post 3.64 EPS for the current fiscal year.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $48.51 per share, with a total value of $97,020.00. Following the completion of the purchase, the insider now directly owns 10,931,841 shares in the company, valued at $530,303,606.91. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James W. Iv Cross purchased 7,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the purchase, the director now owns 61,278 shares of the company's stock, valued at $2,481,146.22. This represents a 13.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On FB Financial

A number of hedge funds have recently bought and sold shares of the business. Mendon Capital Advisors Corp purchased a new stake in FB Financial during the first quarter valued at $2,318,000. Jane Street Group LLC raised its stake in shares of FB Financial by 89.1% in the first quarter. Jane Street Group LLC now owns 40,831 shares of the financial services provider's stock valued at $1,893,000 after acquiring an additional 19,235 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of FB Financial by 39.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider's stock valued at $3,715,000 after acquiring an additional 22,662 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of FB Financial in the first quarter valued at $245,000. Finally, Millennium Management LLC raised its stake in shares of FB Financial by 11.8% in the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider's stock valued at $16,419,000 after acquiring an additional 37,385 shares during the period. 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.