FB Financial (NYSE:FBK) Price Target Increased to $56.00 by Analysts at Hovde Group

FB Financial (NYSE:FBK) had its price target boosted by equities research analysts at Hovde Group from $52.50 to $56.00 in a report issued on Monday, MarketBeat Ratings reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Hovde Group’s target price points to a potential upside of 15.68% from the company’s previous close.

FBK has been the subject of a number of other research reports. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $47.80.

FB Financial Stock Up 1.0 %

FBK opened at $48.41 on Monday. The firm has a 50-day moving average price of $46.65 and a 200-day moving average price of $41.85. FB Financial has a twelve month low of $27.75 and a twelve month high of $51.40. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.34 and a beta of 1.13.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts expect that FB Financial will post 3.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Monday, October 21st. The shares were bought at an average price of $48.17 per share, with a total value of $96,340.00. Following the acquisition, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder James W. Ayers purchased 1,500 shares of the company’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $49.58 per share, with a total value of $74,370.00. Following the transaction, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, October 21st. The shares were purchased at an average cost of $48.17 per share, with a total value of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in FBK. Allspring Global Investments Holdings LLC lifted its position in shares of FB Financial by 7.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after purchasing an additional 15,739 shares during the period. Raymond James & Associates boosted its position in FB Financial by 5.0% during the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after acquiring an additional 6,183 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of FB Financial during the 3rd quarter worth approximately $84,000. Creative Planning lifted its stake in shares of FB Financial by 4.6% in the 3rd quarter. Creative Planning now owns 26,308 shares of the financial services provider’s stock valued at $1,235,000 after purchasing an additional 1,149 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of FB Financial during the third quarter valued at approximately $667,000. Institutional investors own 65.40% of the company’s stock.

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.