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

FB Financial (NYSE:FBK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

FBK has been the topic of several other research reports. Hovde Group raised their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Stock Performance

FB Financial stock traded up $0.47 during mid-day trading on Wednesday, reaching $50.41. 137,135 shares of the company were exchanged, compared to its average volume of 145,568. The firm has a market cap of $2.37 billion, a P/E ratio of 21.18 and a beta of 1.13. FB Financial has a 12-month low of $28.79 and a 12-month high of $51.63. The business has a fifty day moving average of $47.23 and a 200 day moving average of $42.38.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period last year, the firm posted $0.71 EPS. Sell-side analysts predict that FB Financial will post 3.34 EPS for the current year.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the stock in a transaction on Friday, October 18th. The stock was bought at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were bought at an average cost of $48.17 per share, with a total value of $96,340.00. Following the transaction, the insider now directly owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,500 shares of company stock worth $464,410. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Several large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in FB Financial in the 3rd quarter worth approximately $84,000. SG Americas Securities LLC acquired a new stake in FB Financial during the 1st quarter valued at $165,000. Renaissance Technologies LLC purchased a new stake in FB Financial during the 2nd quarter worth $217,000. ProShare Advisors LLC lifted its holdings in FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after buying an additional 494 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in FB Financial by 17.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,067 shares during the last quarter. Institutional investors and hedge funds 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.