FB Financial (NYSE:FBK) Rating Increased to Hold at Wall Street Zen

FB Financial (NYSE:FBK) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler boosted their target price on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Stock Down 0.3%

FB Financial stock opened at $54.43 on Friday. FB Financial has a 52-week low of $38.83 and a 52-week high of $60.51. The firm’s fifty day moving average is $54.96 and its 200 day moving average is $49.84. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 25.43 and a beta of 0.97.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share for the quarter. The firm had revenue of $163.71 million for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. On average, equities research analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

Institutional Trading of FB Financial

Hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. bought a new position in shares of FB Financial during the 3rd quarter worth approximately $48,674,000. Nuveen LLC acquired a new position in shares of FB Financial during the first quarter valued at about $39,275,000. Wellington Management Group LLP purchased a new position in shares of FB Financial in the 3rd quarter valued at approximately $35,534,000. Vanguard Group Inc. raised its holdings in shares of FB Financial by 19.5% in the third quarter. Vanguard Group Inc. now owns 2,957,794 shares of the financial services provider’s stock worth $164,867,000 after buying an additional 483,191 shares during the last quarter. Finally, Leeward Investments LLC MA acquired a new stake in shares of FB Financial during the third quarter worth $20,680,000. 65.40% of the stock is owned by hedge funds and other 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.