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

FB Financial (NYSE:FBK) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Tuesday, Briefing.com reports. The brokerage presently has a $41.00 target price on the financial services provider’s stock, up from their prior target price of $38.00. Piper Sandler’s target price would indicate a potential upside of 15.20% from the stock’s previous close.

FBK has been the subject of several other research reports. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $40.50 in a research note on Tuesday. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Stephens lowered their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.67.

FB Financial Stock Performance

Shares of NYSE:FBK traded up $0.96 during trading on Tuesday, reaching $35.59. The stock had a trading volume of 234,162 shares, compared to its average volume of 128,592. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.85 and a beta of 1.15. FB Financial has a 52 week low of $24.34 and a 52 week high of $41.00. The firm’s fifty day moving average is $35.96 and its 200 day moving average is $35.06.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, research analysts forecast that FB Financial will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at FB Financial

In other news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction that occurred on Wednesday, January 17th. The stock was purchased at an average cost of $35.29 per share, with a total value of $70,580.00. Following the purchase, the insider now owns 10,877,841 shares in the company, valued at $383,879,008.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction on Wednesday, January 17th. The shares were bought at an average price of $35.29 per share, with a total value of $70,580.00. Following the transaction, the insider now directly owns 10,877,841 shares of the company’s stock, valued at $383,879,008.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James W. Ayers bought 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders acquired a total of 9,000 shares of company stock valued at $327,410 in the last three months. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FBK. JPMorgan Chase & Co. grew its stake in shares of FB Financial by 9.6% in the first quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock valued at $4,210,000 after buying an additional 8,263 shares in the last quarter. American Century Companies Inc. increased its position in shares of FB Financial by 20.4% during the 1st quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 7,283 shares during the period. Citigroup Inc. increased its position in shares of FB Financial by 16.3% during the 1st quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 4,442 shares during the period. MetLife Investment Management LLC grew its holdings in shares of FB Financial by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock worth $763,000 after acquiring an additional 6,267 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of FB Financial by 2.9% in the first quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock worth $4,129,000 after buying an additional 2,589 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

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.