FB Financial (NYSE:FBK) Lowered to “Hold” at Zacks Investment Research

FB Financial (NYSE:FBKGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. “

FBK has been the topic of several other reports. StockNews.com started coverage on shares of FB Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Stephens upped their price target on shares of FB Financial from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, January 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $49.20.

Shares of FBK stock traded down $1.39 on Friday, hitting $41.02. The stock had a trading volume of 152,409 shares, compared to its average volume of 135,821. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.36 and a beta of 1.05. The stock’s 50 day moving average is $43.69 and its 200-day moving average is $44.36. FB Financial has a 52-week low of $34.99 and a 52-week high of $48.03.

FB Financial (NYSE:FBKGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The business had revenue of $129.57 million during the quarter, compared to the consensus estimate of $132.56 million. FB Financial had a net margin of 31.03% and a return on equity of 13.04%. During the same period in the prior year, the firm earned $1.10 earnings per share. Sell-side analysts expect that FB Financial will post 3.29 earnings per share for the current year.

Several large investors have recently modified their holdings of FBK. Principal Financial Group Inc. grew its position in shares of FB Financial by 3.3% during the third quarter. Principal Financial Group Inc. now owns 285,448 shares of the financial services provider’s stock worth $12,240,000 after acquiring an additional 9,167 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of FB Financial by 4.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,933 shares of the financial services provider’s stock worth $1,155,000 after acquiring an additional 1,128 shares during the last quarter. Wasatch Advisors Inc. grew its position in shares of FB Financial by 4.9% during the third quarter. Wasatch Advisors Inc. now owns 1,441,571 shares of the financial services provider’s stock worth $61,815,000 after acquiring an additional 67,335 shares during the last quarter. Comerica Bank grew its position in shares of FB Financial by 2.5% during the third quarter. Comerica Bank now owns 32,183 shares of the financial services provider’s stock worth $1,505,000 after acquiring an additional 776 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in shares of FB Financial by 4.9% during the third quarter. Texas Permanent School Fund now owns 26,277 shares of the financial services provider’s stock worth $1,127,000 after acquiring an additional 1,218 shares during the last quarter. 64.99% of the stock is currently owned by institutional investors.

About FB Financial (Get Rating)

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 two segments, 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 engages in the mortgage origination business.

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