Cantor Fitzgerald Initiates Coverage on FB Financial (NYSE:FBK)

Key Points

• FB Financial was upgraded to a "strong-buy" rating by Cantor Fitzgerald, signaling increased confidence in the stock's performance.
• The company has a current average price target of $58.80, with a mix of ratings from analysts including one "strong buy" and four "buy" ratings.
• FB Financial's recent earnings report showed EPS of $0.88, which fell short of analysts' expectations, indicating potential challenges despite positive analyst sentiment.

Equities researchers at Cantor Fitzgerald initiated coverage on shares of FB Financial (NYSE:FBK - Get Free Report) in a note issued to investors on Tuesday, September 9th, 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 16.65% from the stock's current price.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen lowered FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $58.80.

FB Financial Stock Down 0.4%

Shares of FBK stock traded down $0.23 during mid-day trading on Tuesday, reaching $52.30. 77,971 shares of the stock traded hands, compared to its average volume of 276,339. The stock's fifty day simple moving average is $50.37 and its two-hundred day simple moving average is $46.48. FB Financial has a 1-year low of $38.83 and a 1-year high of $58.88. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 27.10 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The firm had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. On average, equities research analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

Institutional Investors Weigh In On FB Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of FB Financial during the first quarter valued at approximately $33,000. EverSource Wealth Advisors LLC grew its holdings in FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock worth $39,000 after buying an additional 795 shares in the last quarter. GAMMA Investing LLC grew its holdings in FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after buying an additional 370 shares in the last quarter. CWM LLC grew its holdings in FB Financial by 58.2% during the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after buying an additional 611 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position 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 worth $202,000 after purchasing an additional 290 shares during the last quarter. Institutional investors 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.