FB Financial (NYSE:FBK) Price Target Increased to $56.00 by Analysts at Hovde Group

FB Financial (NYSE:FBK) had its price objective lifted by Hovde Group from $52.50 to $56.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also issued reports on FBK. JPMorgan Chase & Co. dropped their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research report on Thursday, June 27th. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Stephens reiterated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Finally, Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. One investment 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. Based on data from MarketBeat.com, FB Financial has an average rating of “Hold” and an average target price of $47.80.

FB Financial Price Performance

Shares of NYSE:FBK opened at $48.71 on Monday. FB Financial has a 1 year low of $27.75 and a 1 year high of $51.40. The business has a 50 day simple moving average of $46.76 and a two-hundred day simple moving average of $41.89. The firm has a market capitalization of $2.29 billion, a PE ratio of 20.47 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. The business had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. Equities research analysts expect that FB Financial will post 3.25 EPS for the current fiscal year.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, October 21st. The stock was bought at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the acquisition, the insider now directly owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder James W. Ayers bought 1,500 shares of the stock in a transaction on Friday, October 18th. The stock was bought at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the acquisition, the insider now directly 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 legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, October 21st. The shares were bought at an average price of $48.17 per share, with a total value of $96,340.00. Following the acquisition, the insider now owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.70% of the stock is owned by company insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in FB Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after buying an additional 9,694 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FB Financial by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares in the last quarter. Wasatch Advisors LP increased its position in shares of FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of FB Financial by 3.0% during the first quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock worth $42,812,000 after purchasing an additional 33,310 shares in the last quarter. Finally, Heartland Advisors Inc. increased its position in shares of FB Financial by 22.0% during the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after purchasing an additional 57,355 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.