FB Financial (NYSE:FBK) Price Target Raised to $43.00

FB Financial (NYSE:FBK - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 20.65% from the company's previous close.

Several other research firms also recently weighed in on FBK. Stephens reduced their target price on FB Financial from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 17th. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research report on Tuesday. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $40.00 to $40.50 in a research report on Tuesday. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $38.00 to $41.00 in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $38.00 target price on shares of FB Financial in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $39.43.

FB Financial Stock Down 1.4 %

Shares of FBK traded down $0.51 during trading hours on Wednesday, reaching $35.64. 280,649 shares of the company traded hands, compared to its average volume of 134,363. The stock has a market capitalization of $1.67 billion, a PE ratio of 14.97 and a beta of 1.15. FB Financial has a fifty-two week low of $24.34 and a fifty-two week high of $41.00. The stock has a fifty day simple moving average of $35.96 and a 200 day simple moving average of $35.11.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. The firm had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same period in the prior year, the business posted $0.85 earnings per share. Research analysts predict that FB Financial will post 2.84 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the purchase, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the purchase, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $35.91 per share, with a total value of $107,730.00. Following the purchase, the insider now owns 10,884,841 shares of the company's stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 7,000 shares of company stock worth $256,830. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FB Financial

Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in FB Financial by 1.3% during the 2nd quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider's stock valued at $176,641,000 after purchasing an additional 78,805 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in FB Financial by 7.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider's stock valued at $186,833,000 after purchasing an additional 348,790 shares in the last quarter. Vanguard Group Inc. grew its stake in FB Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider's stock valued at $97,816,000 after purchasing an additional 49,313 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in FB Financial by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider's stock valued at $70,099,000 after purchasing an additional 40,394 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its stake in FB Financial by 17.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider's stock valued at $70,169,000 after purchasing an additional 237,256 shares in the last quarter. Institutional investors and hedge funds 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.