Piper Sandler Upgrades FB Financial (NYSE:FBK) to Overweight

FB Financial (NYSE:FBK - Get Free Report) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $58.00 price target on the financial services provider's stock. Piper Sandler's price objective points to a potential upside of 29.93% from the stock's current price.

Several other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Hovde Group cut shares of FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 target price for the company. in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, FB Financial has a consensus rating of "Hold" and a consensus price target of $52.60.

FB Financial Price Performance

NYSE FBK opened at $44.64 on Tuesday. The firm's fifty day moving average price is $51.20 and its 200 day moving average price is $50.83. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 18.07 and a beta of 1.16. FB Financial has a 12 month low of $33.35 and a 12 month high of $58.88.

Remove Ads

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

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction on Friday, January 10th. The stock was bought at an average price of $48.46 per share, for a total transaction of $96,920.00. Following the completion of the transaction, the insider now owns 10,917,841 shares in the company, valued at approximately $529,078,574.86. The trade was a 0.02 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 16,000 shares of company stock worth $813,900. Insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On FB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new position in FB Financial during the third quarter worth about $47,000. GAMMA Investing LLC raised its position in FB Financial by 45.2% during the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after acquiring an additional 314 shares during the last quarter. Sterling Capital Management LLC raised its position in 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 raised its position in FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after acquiring an additional 555 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of FB Financial during the third quarter worth about $110,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.