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

FB Financial (NYSE:FBK) was upgraded by investment analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The brokerage currently has a $65.00 price target on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 21.87% from the company’s current price.

Separately, Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $63.00.

FB Financial Stock Performance

Shares of FBK opened at $53.34 on Thursday. The stock has a market capitalization of $2.76 billion, a P/E ratio of 22.22 and a beta of 0.98. The company’s fifty day moving average is $55.39 and its two-hundred day moving average is $55.93. FB Financial has a 1 year low of $38.83 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $178.36 million during the quarter, compared to analysts’ expectations of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same quarter last year, the business earned $0.85 EPS. Sell-side analysts predict that FB Financial will post 3.64 EPS for the current year.

Insider Activity at FB Financial

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider directly owned 9,484 shares of the company’s stock, valued at $569,609.04. This represents a 47.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Investors Research Corp purchased a new position in FB Financial in the third quarter valued at about $26,000. UMB Bank n.a. boosted its stake in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 293 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of FB Financial during the 4th quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in shares of FB Financial in the 4th quarter worth approximately $30,000. Finally, Tripletail Wealth Management LLC purchased a new position in FB Financial in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.