AlphaQuest LLC Boosts Stake in FB Financial Corporation $FBK

Key Points

• AlphaQuest LLC increased its stake in FB Financial Corporation by 62.7%, acquiring a total of 46,157 shares valued at approximately $2.09 million.
• Several brokerages have recently upgraded their ratings for FB Financial, with Piper Sandler raising the price target from **$58.00 to $63.00** and Cantor Fitzgerald adjusting theirs up to **$66.00**.
• FB Financial has a current market capitalization of **$3.00 billion** and a price-to-earnings ratio of **26.00**, showing strong performance potentials with a recent share price of **$55.75**.

AlphaQuest LLC boosted its stake in FB Financial Corporation (NYSE:FBK - Free Report) by 62.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,157 shares of the financial services provider's stock after buying an additional 17,779 shares during the quarter. AlphaQuest LLC owned approximately 0.10% of FB Financial worth $2,091,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of FB Financial in the second quarter valued at $403,000. CWM LLC raised its position in shares of FB Financial by 160.2% in the 2nd quarter. CWM LLC now owns 4,319 shares of the financial services provider's stock worth $196,000 after buying an additional 2,659 shares during the period. Inspire Investing LLC raised its position in shares of FB Financial by 14.4% in the 2nd quarter. Inspire Investing LLC now owns 8,538 shares of the financial services provider's stock worth $387,000 after buying an additional 1,074 shares during the period. Keystone Financial Group Inc. purchased a new position in shares of FB Financial in the 2nd quarter worth $2,473,000. Finally, State of Alaska Department of Revenue raised its position in shares of FB Financial by 5.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 20,518 shares of the financial services provider's stock worth $929,000 after buying an additional 1,126 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FBK. Weiss Ratings reiterated a "hold (c)" rating on shares of FB Financial in a report on Wednesday, October 8th. Piper Sandler increased their price target on FB Financial from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $66.00 price target (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Wall Street Zen upgraded FB Financial from a "sell" rating to a "hold" rating in a report on Saturday, October 18th. Finally, Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their price target for the company from $52.00 to $58.00 in a report on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.80.

FB Financial Stock Performance

NYSE:FBK opened at $55.75 on Friday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 26.00 and a beta of 0.91. FB Financial Corporation has a one year low of $38.83 and a one year high of $60.51. The stock has a 50-day simple moving average of $54.31 and a 200 day simple moving average of $48.25.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The business had revenue of $163.71 million during the quarter. On average, equities research analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

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.

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