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

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

A number of other research firms have also recently commented on FBK. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Hovde Group lifted their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods raised their price objective 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. Two equities research 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 MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Price Performance

FB Financial stock opened at $49.22 on Wednesday. The company’s 50-day moving average is $47.31 and its 200-day moving average is $42.43. The firm has a market capitalization of $2.31 billion, a PE ratio of 20.68 and a beta of 1.13. FB Financial has a fifty-two week low of $28.79 and a fifty-two week high of $51.63.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. As a group, analysts expect that FB Financial will post 3.34 EPS for the current year.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the transaction, the insider now owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Wednesday, October 23rd. The shares were purchased at an average cost of $48.43 per share, for a total transaction of $96,860.00. Following the completion of the purchase, the insider now directly owns 10,898,341 shares of the company’s stock, valued at approximately $527,806,654.63. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder James W. Ayers purchased 1,500 shares of FB Financial stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the transaction, the insider now directly owns 10,892,341 shares in the company, valued at $540,042,266.78. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 9,500 shares of company stock worth $464,410 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of FB Financial during the 3rd quarter worth $1,935,000. Allspring Global Investments Holdings LLC grew its position in FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after acquiring an additional 15,739 shares during the last quarter. Raymond James & Associates raised its stake in FB Financial by 5.0% during the third quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock worth $6,080,000 after acquiring an additional 6,183 shares in the last quarter. nVerses Capital LLC bought a new position in shares of FB Financial in the third quarter worth about $84,000. Finally, Creative Planning lifted its holdings in shares of FB Financial by 4.6% in the third quarter. Creative Planning now owns 26,308 shares of the financial services provider’s stock worth $1,235,000 after acquiring an additional 1,149 shares during 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.