FB Financial (NYSE:FBK) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

FB Financial (NYSE:FBK) had its price target raised by analysts at Keefe, Bruyette & Woods from $50.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.74% from the company’s previous close.

A number of other research firms have also recently commented on FBK. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.20.

FB Financial Stock Performance

NYSE FBK traded down $0.44 on Wednesday, reaching $55.91. 16,785 shares of the stock traded hands, compared to its average volume of 146,980. FB Financial has a 12 month low of $33.35 and a 12 month high of $58.88. The company has a fifty day moving average price of $51.02 and a 200-day moving average price of $45.30. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 24.41 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its 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 net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter last year, the firm posted $0.71 EPS. As a group, research analysts anticipate that FB Financial will post 3.38 earnings per share for the current fiscal year.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now owns 10,892,341 shares in the company, valued at $540,042,266.78. This trade represents a 0.01 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares in the company, valued at $3,148,421.16. The trade was a 8.46 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 13,000 shares of company stock worth $658,460 in the last three months. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after buying an additional 106,553 shares during the period. Millennium Management LLC grew its holdings in shares of FB Financial by 259.9% in the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares in the last quarter. Salzhauer Michael purchased a new stake in FB Financial during the 2nd quarter worth approximately $2,596,000. Wasatch Advisors LP lifted its holdings in FB Financial by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after buying an additional 55,071 shares in the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of FB Financial in the third quarter worth $1,935,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.