FB Financial (NYSE:FBK) Stock Rating Lowered by Hovde Group

FB Financial (NYSE:FBK) was downgraded by stock analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat Ratings reports. They currently have a $60.00 price objective on the financial services provider’s stock. Hovde Group’s price objective points to a potential upside of 9.63% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, FB Financial currently has a consensus rating of “Hold” and an average target price of $48.60.

FB Financial Price Performance

Shares of NYSE:FBK opened at $54.73 on Monday. The company’s 50 day simple moving average is $48.99 and its 200 day simple moving average is $43.96. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 23.92 and a beta of 1.12. FB Financial has a 1 year low of $32.09 and a 1 year high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period last year, the firm posted $0.71 earnings per share. As a group, analysts anticipate that FB Financial will post 3.38 EPS for the current fiscal year.

Insider Transactions at FB Financial

In related news, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the transaction, the director now owns 54,078 shares in the company, valued at $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 1,500 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This trade represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,000 shares of company stock worth $658,460. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of FB Financial during the first quarter worth about $165,000. Russell Investments Group Ltd. increased its position in shares of FB Financial by 13.5% during the first quarter. Russell Investments Group Ltd. now owns 12,796 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,518 shares in the last quarter. ProShare Advisors LLC increased its position in shares of FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 494 shares in the last quarter. Vanguard Group Inc. increased its position in shares of FB Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after acquiring an additional 9,694 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of FB Financial by 7.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 30,315 shares of the financial services provider’s stock worth $1,142,000 after acquiring an additional 2,103 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.