StockNews.com Downgrades FB Financial (NYSE:FBK) to Sell

FB Financial (NYSE:FBK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Hovde Group increased their price target on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of FB Financial in a report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.80.

FB Financial Price Performance

Shares of FBK stock opened at $54.30 on Friday. The company’s fifty day moving average price is $47.68 and its two-hundred day moving average price is $42.97. The firm has a market capitalization of $2.55 billion, a P/E ratio of 23.71 and a beta of 1.12. FB Financial has a 12 month low of $30.01 and a 12 month high of $56.70.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, sell-side analysts anticipate that FB Financial will post 3.38 EPS for the current year.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Monday, October 21st. The stock was acquired at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the transaction, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers purchased 500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $51.00 per share, with a total value of $25,500.00. Following the purchase, the insider now owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 10,000 shares of company stock worth $489,910 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FBK. nVerses Capital LLC acquired a new stake in FB Financial during the third quarter valued at approximately $84,000. SG Americas Securities LLC purchased a new position in FB Financial during the 1st quarter worth approximately $165,000. Entropy Technologies LP acquired a new stake in FB Financial during the 3rd quarter valued at $202,000. Renaissance Technologies LLC purchased a new stake in shares of FB Financial in the second quarter valued at $217,000. Finally, ProShare Advisors LLC grew its holdings in shares of FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after buying an additional 494 shares in the last quarter. 65.40% of the stock is currently owned by 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.