FB Financial (NYSE:FBK) was upgraded by Zacks Investment Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, "FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. "
Other equities analysts have also recently issued reports about the stock. SunTrust Banks upped their price target on shares of FB Financial from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Friday, May 1st. TheStreet cut shares of FB Financial from a "b" rating to a "c+" rating in a research report on Friday, March 6th. UBS Group decreased their price target on shares of FB Financial from $41.00 to $18.50 and set a "neutral" rating for the company in a research report on Monday, April 6th. Finally, ValuEngine upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Thursday, June 4th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of "Hold" and an average price target of $33.60.
FBK stock traded up $1.48 during trading on Tuesday, reaching $23.97. 119,400 shares of the company were exchanged, compared to its average volume of 146,226. The company has a 50-day moving average of $23.53 and a two-hundred day moving average of $28.70. The company has a market capitalization of $721.52 million, a price-to-earnings ratio of 11.69 and a beta of 1.43. FB Financial has a twelve month low of $14.38 and a twelve month high of $40.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.90 and a quick ratio of 0.84.
FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 27th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.50 by ($0.33). The company had revenue of $98.95 million for the quarter, compared to analyst estimates of $89.00 million. FB Financial had a return on equity of 9.82% and a net margin of 14.92%. On average, analysts forecast that FB Financial will post 1.64 EPS for the current year.
In other FB Financial news, Chairman James W. Ayers acquired 44,750 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $22.32 per share, for a total transaction of $998,820.00. Following the completion of the transaction, the chairman now owns 13,563,990 shares of the company's stock, valued at approximately $302,748,256.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William F. Carpenter III acquired 4,547 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $21.44 per share, for a total transaction of $97,487.68. In the last 90 days, insiders have acquired 72,939 shares of company stock worth $1,606,925. Company insiders own 45.20% of the company's stock.
Hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. purchased a new stake in shares of FB Financial in the first quarter worth $25,000. FDx Advisors Inc. purchased a new stake in FB Financial during the first quarter valued at about $47,000. Great West Life Assurance Co. Can bought a new stake in FB Financial during the fourth quarter worth about $48,000. Bank of Montreal Can raised its holdings in shares of FB Financial by 44.8% during the 4th quarter. Bank of Montreal Can now owns 2,161 shares of the financial services provider's stock valued at $86,000 after buying an additional 669 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of FB Financial by 165.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,305 shares of the financial services provider's stock worth $105,000 after acquiring an additional 3,307 shares in the last quarter. Institutional investors own 54.42% 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 businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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