FB Financial (NYSE:FBK) Upgraded at Piper Sandler

FB Financial (NYSE:FBK) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a $58.00 target price on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 26.21% from the stock’s previous close.

Several other equities analysts also recently commented on the company. 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 research report on Monday, November 18th. Keefe, Bruyette & Woods increased their target price on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.60.

FB Financial Stock Up 2.0 %

Shares of FBK stock opened at $45.95 on Tuesday. FB Financial has a twelve month low of $33.35 and a twelve month high of $58.88. The company has a market cap of $2.15 billion, a P/E ratio of 18.60 and a beta of 1.16. The business has a fifty day simple moving average of $50.96 and a 200 day simple moving average of $50.78.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities research analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, January 6th. The stock was bought at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the transaction, the insider now directly owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders purchased 16,000 shares of company stock worth $813,900 over the last ninety days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of FB Financial by 24.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,476 shares of the financial services provider’s stock worth $2,961,000 after acquiring an additional 11,251 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in FB Financial during the fourth quarter worth approximately $1,280,000. Point72 Asset Management L.P. grew its stake in FB Financial by 320.0% during the fourth quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 3,200 shares during the period. ProShare Advisors LLC grew its stake in FB Financial by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 10,696 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 3,294 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in FB Financial by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock worth $13,383,000 after purchasing an additional 58,402 shares during the period. 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.