FB Financial (NYSE:FBK) Raised to “Overweight” at Piper Sandler

FB Financial (NYSE:FBK) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Tuesday, Briefing.com reports. The brokerage presently has a $41.00 price target on the financial services provider’s stock, up from their previous price target of $38.00. Piper Sandler’s price target would indicate a potential upside of 15.20% from the stock’s previous close.

A number of other brokerages have also commented on FBK. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $40.50 in a research note on Tuesday. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Stephens dropped their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, FB Financial currently has a consensus rating of “Hold” and a consensus target price of $37.67.

FB Financial Stock Up 2.8 %

Shares of FBK traded up $0.96 during trading hours on Tuesday, reaching $35.59. 234,162 shares of the company traded hands, compared to its average volume of 128,592. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.85 and a beta of 1.15. The company’s fifty day moving average price is $35.96 and its two-hundred day moving average price is $35.06.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. During the same period last year, the company posted $0.85 EPS. On average, analysts expect that FB Financial will post 2.84 EPS for the current year.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Monday, January 22nd. The shares were bought at an average cost of $38.20 per share, with a total value of $76,400.00. Following the completion of the acquisition, the insider now owns 10,881,841 shares in the company, valued at $415,686,326.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Monday, January 22nd. The shares were bought at an average cost of $38.20 per share, with a total value of $76,400.00. Following the completion of the acquisition, the insider now owns 10,881,841 shares in the company, valued at $415,686,326.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. Insiders have bought a total of 9,000 shares of company stock valued at $327,410 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FBK. BlackRock Inc. boosted its position in shares of FB Financial by 1.3% during the 2nd quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock worth $176,641,000 after purchasing an additional 78,805 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of FB Financial by 7.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after purchasing an additional 348,790 shares during the period. Vanguard Group Inc. boosted its position in FB Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares during the period. Dimensional Fund Advisors LP boosted its position in FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock valued at $70,099,000 after buying an additional 40,394 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in FB Financial by 17.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock valued at $70,169,000 after buying an additional 237,256 shares during the period. 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.