Keefe, Bruyette & Woods Lowers FB Financial (NYSE:FBK) Price Target to $65.00

FB Financial (NYSE:FBK) had its target price dropped by Keefe, Bruyette & Woods from $67.00 to $65.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 22.12% from the company’s previous close.

A number of other research analysts also recently commented on the company. Cantor Fitzgerald set a $65.00 price target on FB Financial in a report on Wednesday. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Tuesday, April 7th. Weiss Ratings downgraded FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, April 7th. Finally, Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $64.25.

FB Financial Price Performance

Shares of NYSE FBK opened at $53.23 on Wednesday. FB Financial has a 1-year low of $39.72 and a 1-year high of $62.37. The business has a 50-day moving average of $54.69 and a 200-day moving average of $55.97. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.01 and a beta of 0.98.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The company had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. During the same period in the previous year, the company earned $0.85 EPS. FB Financial’s quarterly revenue was up 31.8% on a year-over-year basis. Research analysts expect that FB Financial will post 3.64 EPS for the current fiscal year.

Hedge Funds Weigh In On FB Financial

Large investors have recently added to or reduced their stakes in the company. Investors Research Corp bought a new position in FB Financial during the third quarter worth $26,000. CIBC Private Wealth Group LLC bought a new stake in shares of FB Financial in the 4th quarter worth approximately $27,000. UMB Bank n.a. lifted its holdings in shares of FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of FB Financial in the 3rd quarter worth approximately $31,000. Finally, Assetmark Inc. bought a new stake in shares of FB Financial in the 4th quarter worth approximately $30,000. 65.40% of the stock is currently owned by institutional investors.

About FB Financial

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.