FB Financial (NYSE:FBK) PT Raised to $56.00 at Hovde Group

FB Financial (NYSE:FBK) had its price target increased by Hovde Group from $52.50 to $56.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price would indicate a potential upside of 15.68% from the stock’s current price.

Several other equities research analysts also recently commented on FBK. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of FB Financial in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods increased their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.80.

FB Financial Price Performance

Shares of FB Financial stock opened at $48.41 on Monday. The company’s 50 day moving average price is $46.65 and its two-hundred day moving average price is $41.85. The firm has a market capitalization of $2.27 billion, a P/E ratio of 20.34 and a beta of 1.13. FB Financial has a fifty-two week low of $27.75 and a fifty-two week high of $51.40.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. During the same quarter in the previous year, the company posted $0.71 EPS. On average, analysts expect that FB Financial will post 3.25 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On FB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its position in shares of FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after buying an additional 139,395 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after purchasing an additional 106,553 shares during the last quarter. Salzhauer Michael purchased a new position in FB Financial during the second quarter worth about $2,596,000. Quest Partners LLC bought a new stake in FB Financial in the 2nd quarter worth about $450,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of FB Financial by 7.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 30,315 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 2,103 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

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.