FB Financial (NYSE:FBK) Stock Rating Lowered by Wall Street Zen

FB Financial (NYSE:FBK) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of FB Financial in a research report on Wednesday, October 14th. Truist Financial set a $64.00 price target on shares of FB Financial in a report on Wednesday, October 14th. Keefe, Bruyette & Woods dropped their price target on shares of FB Financial from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Finally, Benchmark increased their price objective on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $64.43.

FB Financial Trading Up 0.1%

NYSE FBK opened at $54.23 on Friday. The business’s 50-day moving average price is $53.67 and its two-hundred day moving average price is $55.31. FB Financial has a 12 month low of $49.24 and a 12 month high of $62.65. The firm has a market capitalization of $2.66 billion, a PE ratio of 12.05 and a beta of 0.97.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. The company had revenue of $175.62 million during the quarter, compared to the consensus estimate of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. As a group, analysts forecast that FB Financial will post 4.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FB Financial news, Director Orrin Ingram, II bought 29,081 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was acquired at an average price of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the purchase, the director directly owned 124,391 shares of the company’s stock, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP bought a new stake in FB Financial in the second quarter valued at $1,202,000. Penn Capital Management Company LLC raised its holdings in shares of FB Financial by 21.2% during the second quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock valued at $21,456,000 after purchasing an additional 67,656 shares during the period. Jupiter Topco LLC acquired a new position in shares of FB Financial during the second quarter valued at about $21,338,000. Dimensional Fund Advisors LP boosted its position in shares of FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after purchasing an additional 28,023 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of FB Financial during the 2nd quarter worth about $39,460,000. 65.40% of the stock is owned by institutional investors and hedge funds.

About FB Financial

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.