Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for FB Financial (NYSE:FBK)

FB Financial (NYSE:FBK)‘s stock had its “market perform” rating reissued by equities researchers at Keefe, Bruyette & Woods in a research note issued on Wednesday, Benzinga reports. They presently have a $38.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 6.86% from the company’s current price.

A number of other research firms also recently issued reports on FBK. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $41.00 in a research note on Tuesday. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $40.50 in a research note on Tuesday. Stephens lowered their target price on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and a consensus target price of $39.43.

FB Financial Trading Down 0.2 %

FB Financial stock opened at $35.56 on Wednesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.94 and a beta of 1.15. The stock has a fifty day simple moving average of $35.96 and a two-hundred day simple moving average of $35.12. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. During the same period last year, the business posted $0.85 EPS. On average, equities research analysts forecast that FB Financial will post 2.84 EPS for the current fiscal year.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other FB Financial news, major shareholder James W. Ayers purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were acquired at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the completion of the acquisition, the insider now owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,000 shares of company stock valued at $256,830 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

Several large investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its holdings in shares of FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FB Financial by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock worth $8,057,000 after purchasing an additional 3,630 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after purchasing an additional 49,313 shares during the last quarter. Mendon Capital Advisors Corp bought a new stake in shares of FB Financial in the fourth quarter worth about $5,978,000. Finally, Price T Rowe Associates Inc. MD increased its stake in FB Financial by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,722 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 809 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

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.