FB Financial (NYSE:FBK) Rating Increased to Outperform at Hovde Group

FB Financial (NYSE:FBK) was upgraded by stock analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $59.00 target price on the financial services provider’s stock, down from their prior target price of $60.00. Hovde Group’s price objective points to a potential upside of 27.41% from the company’s previous close.

A number of other research analysts have also commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $52.40.

FB Financial Price Performance

FB Financial stock opened at $46.31 on Tuesday. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The firm has a market capitalization of $2.16 billion, a PE ratio of 18.75 and a beta of 1.16. The company’s 50-day moving average is $49.96 and its 200-day moving average is $50.85.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, analysts expect that FB Financial will post 3.64 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were purchased at an average price of $50.26 per share, for a total transaction of $100,520.00. Following the completion of the transaction, the insider now directly owns 10,915,841 shares in the company, valued at approximately $548,630,168.66. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 14,000 shares of company stock worth $710,180. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after buying an additional 314 shares in the last quarter. Albert D Mason Inc. raised its holdings in shares of FB Financial by 1.5% during the 4th quarter. Albert D Mason Inc. now owns 23,474 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 346 shares in the last quarter. Stifel Financial Corp lifted its position in FB Financial by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock worth $3,786,000 after buying an additional 356 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in FB Financial by 1.6% in the fourth quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider’s stock worth $1,315,000 after buying an additional 412 shares in the last quarter. Finally, KBC Group NV grew its position in FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 555 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Company Profile

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.