FB Financial (NYSE:FBK) Rating Lowered to “Sell” at StockNews.com

FB Financial (NYSE:FBK) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other equities analysts have also weighed in on FBK. Hovde Group lifted their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Stephens reissued an “overweight” rating and set a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods raised their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.80.

FB Financial Stock Performance

Shares of FBK opened at $54.30 on Friday. FB Financial has a fifty-two week low of $30.01 and a fifty-two week high of $56.70. The firm has a 50-day simple moving average of $47.68 and a 200-day simple moving average of $42.97. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.71 and a beta of 1.12.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same period in the prior year, the business earned $0.71 EPS. Equities research analysts forecast that FB Financial will post 3.38 EPS for the current year.

Insider Activity

In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average price of $48.17 per share, with a total value of $96,340.00. Following the purchase, the insider now owns 10,894,341 shares in the company, valued at $524,780,405.97. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the business’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, October 21st. The stock was acquired at an average cost of $48.17 per share, with a total value of $96,340.00. Following the transaction, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 10,000 shares of company stock worth $489,910 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after acquiring an additional 106,553 shares during the period. Millennium Management LLC increased its position in shares of FB Financial by 259.9% in the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after acquiring an additional 85,620 shares in the last quarter. Salzhauer Michael purchased a new stake in FB Financial during the 2nd quarter worth $2,596,000. Rosenthal Henry Capital Advisors Inc. acquired a new stake in FB Financial in the 3rd quarter valued at $1,935,000. Finally, Janus Henderson Group PLC raised its position in FB Financial by 3.0% in the first quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock valued at $42,812,000 after purchasing an additional 33,310 shares during the period. 65.40% of the stock is 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.