FB Financial (NYSE:FBK – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also recently weighed in on FBK. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and set a $35.50 price target on the stock in a research report on Wednesday, October 18th. Janney Montgomery Scott upgraded shares of FB Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $35.50 in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.58.
FB Financial Stock Performance
FB Financial (NYSE:FBK – Get Free Report) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. The company had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same period in the previous year, the business earned $0.85 earnings per share. On average, equities analysts forecast that FB Financial will post 2.85 earnings per share for the current fiscal year.
In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was bought at an average cost of $35.29 per share, for a total transaction of $70,580.00. Following the completion of the purchase, the insider now owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.
Institutional Trading of FB Financial
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in shares of FB Financial by 570.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after buying an additional 833 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of FB Financial in the 3rd quarter valued at $31,000. First Horizon Advisors Inc. increased its stake in shares of FB Financial by 42.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,436 shares of the financial services provider’s stock valued at $40,000 after buying an additional 430 shares during the period. Point72 Hong Kong Ltd increased its stake in shares of FB Financial by 413.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock valued at $72,000 after buying an additional 1,301 shares during the period. Finally, Point72 Middle East FZE increased its stake in shares of FB Financial by 111.6% in the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock valued at $47,000 after buying an additional 876 shares during the period. 63.91% of the stock is currently owned by institutional investors and hedge funds.
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.
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