FB Financial (NYSE:FBK) Coverage Initiated at Cantor Fitzgerald

Analysts at Cantor Fitzgerald started coverage on shares of FB Financial (NYSE:FBK) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm set an “overweight” rating on the financial services provider’s stock.

FBK has been the topic of a number of other research reports. Wall Street Zen lowered FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $52.00 to $58.00 in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $58.80.

FB Financial Stock Performance

FBK stock opened at $53.14 on Tuesday. The firm has a market cap of $2.86 billion, a PE ratio of 27.53 and a beta of 0.93. The firm’s 50 day moving average price is $50.03 and its 200-day moving average price is $46.46. FB Financial has a one year low of $38.83 and a one year high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $76.86 million for the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. Equities research analysts predict that FB Financial will post 3.64 EPS for the current fiscal year.

Institutional Investors Weigh In On FB Financial

Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in shares of FB Financial during the first quarter worth about $33,000. EverSource Wealth Advisors LLC raised 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 purchasing an additional 795 shares in the last quarter. GAMMA Investing LLC raised 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 purchasing an additional 370 shares in the last quarter. CWM LLC raised 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 purchasing an additional 611 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in FB Financial by 320.0% during the fourth quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 3,200 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.