Hovde Group Upgrades FB Financial (NYSE:FBK) to "Outperform"

FB Financial (NYSE:FBK - Get Free Report) was upgraded by stock analysts at Hovde Group from a "market perform" rating to an "outperform" rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a $59.00 price target on the financial services provider's stock, down from their prior price target of $60.00. Hovde Group's target price indicates a potential upside of 44.81% from the stock's current price.

A number of other research firms have also commented on FBK. Piper Sandler raised FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $55.40.

FB Financial Price Performance

Shares of FB Financial stock traded down $1.15 on Tuesday, reaching $40.74. 411,317 shares of the company traded hands, compared to its average volume of 159,404. The company has a 50 day moving average of $49.23 and a 200 day moving average of $50.71. FB Financial has a 52 week low of $33.35 and a 52 week high of $58.88. The firm has a market capitalization of $1.90 billion, a PE ratio of 16.50 and a beta of 1.16.

FB Financial (NYSE:FBK - Get Free Report) 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, analysts anticipate that FB Financial will post 3.64 earnings per share for the current year.

Insider Activity

In related news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was bought at an average cost of $50.26 per share, for a total transaction of $100,520.00. Following the completion of the transaction, the insider now owns 10,915,841 shares of the company's stock, valued at approximately $548,630,168.66. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 14,000 shares of company stock worth $710,180. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. bought a new position in FB Financial during the third quarter valued at approximately $47,000. GAMMA Investing LLC boosted its stake in shares of FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 314 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 997 shares during the last quarter. KBC Group NV raised its position in FB Financial by 36.2% in the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after purchasing an additional 555 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in FB Financial in the third quarter worth $110,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.