Keefe, Bruyette & Woods Issues Pessimistic Forecast for FB Financial (NYSE:FBK) Stock Price

FB Financial (NYSE:FBK - Get Free Report) had its price target cut by investment analysts at Keefe, Bruyette & Woods from $58.00 to $52.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 27.94% from the company's previous close.

Other research analysts have also issued reports about the stock. Stephens dropped their price objective on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler lifted their price target on shares of FB Financial from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $60.00 to $59.00 in a research report on Tuesday, April 1st. Finally, StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.80.

FB Financial Stock Performance

FBK stock traded up $0.66 during trading on Thursday, hitting $40.65. 110,099 shares of the company's stock traded hands, compared to its average volume of 165,012. The business has a fifty day simple moving average of $46.10 and a 200 day simple moving average of $50.21. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 16.45 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. The company had revenue of $130.67 million for the quarter, compared to analysts' expectations of $132.28 million. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. During the same period in the previous year, the firm posted $0.85 earnings per share. Research analysts forecast that FB Financial will post 3.64 earnings per share for the current fiscal year.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the acquisition, the insider now owns 10,919,841 shares of the company's stock, valued at $573,946,842.96. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the acquisition, the director now directly owns 61,278 shares in the company, valued at approximately $2,481,146.22. This represents a 13.31 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,200 shares of company stock valued at $701,468 over the last ninety days. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FBK. GAMMA Investing LLC lifted its holdings in shares of FB Financial by 45.2% during 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 during the last quarter. Sterling Capital Management LLC grew its stake in shares of FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after acquiring an additional 997 shares during the last quarter. KBC Group NV increased its holdings in shares of FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock valued at $108,000 after acquiring an additional 555 shares in the last quarter. LPL Financial LLC acquired a new stake in FB Financial in the 4th quarter worth approximately $206,000. Finally, Covenant Partners LLC acquired a new position in FB Financial during the 4th quarter valued at approximately $211,000. Hedge funds and other institutional investors 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.