StockNews.com started coverage on shares of FB Financial (NYSE:FBK – Get Free Report) in a research note issued on Thursday. The brokerage set a “hold” rating on the financial services provider’s stock.
Other research analysts have also issued reports about the company. TheStreet raised FB Financial from a “c+” rating to a “b-” rating in a research report on Monday, August 7th. Raymond James assumed coverage on FB Financial in a research report on Thursday, August 31st. They set a “market perform” rating for the company. DA Davidson raised their target price on FB Financial from $33.50 to $37.00 in a research report on Wednesday, July 19th. Finally, JPMorgan Chase & Co. increased their price target on FB Financial from $29.00 to $31.00 in a report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and a consensus price target of $37.29.
Read Our Latest Analysis on FB Financial
FB Financial Stock Performance
FB Financial (NYSE:FBK – Get Free Report) last announced its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The business had revenue of $125.36 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.73% and a net margin of 20.44%. During the same period last year, the company earned $0.64 EPS. As a group, equities analysts forecast that FB Financial will post 2.89 EPS for the current year.
Insider Activity
In other news, major shareholder James W. Ayers bought 6,000 shares of FB Financial stock in a transaction dated Thursday, July 20th. The stock was bought at an average cost of $33.10 per share, for a total transaction of $198,600.00. Following the purchase, the insider now directly owns 10,830,091 shares in the company, valued at approximately $358,476,012.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder James W. Ayers bought 6,000 shares of FB Financial stock in a transaction dated Thursday, July 20th. The stock was bought at an average cost of $33.10 per share, for a total transaction of $198,600.00. Following the purchase, the insider now directly owns 10,830,091 shares in the company, valued at approximately $358,476,012.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James W. Ayers bought 5,800 shares of FB Financial stock in a transaction dated Friday, July 28th. The stock was purchased at an average price of $34.80 per share, with a total value of $201,840.00. Following the completion of the purchase, the insider now owns 10,851,891 shares in the company, valued at $377,645,806.80. The disclosure for this purchase can be found here. Insiders bought a total of 42,103 shares of company stock worth $1,421,442 in the last three months. Company insiders own 1.90% of the company’s stock.
Hedge Funds Weigh In On FB Financial
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its stake in FB Financial by 570.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 833 shares during the last quarter. First Horizon Advisors Inc. lifted its position in shares of FB Financial by 42.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,436 shares of the financial services provider’s stock worth $40,000 after buying an additional 430 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in shares of FB Financial by 413.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,301 shares in the last quarter. Point72 Middle East FZE lifted its position in shares of FB Financial by 111.6% during the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after buying an additional 876 shares in the last quarter. Finally, Gyon Technologies Capital Management LP bought a new position in shares of FB Financial during the 4th quarter worth approximately $100,000. Institutional investors and hedge funds own 63.91% 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.
Read More
- Five stocks we like better than FB Financial
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Huawei Has Entered The Chips Race, Markets Still Prefer These
- What is a SEC Filing?
- Restaurant Stocks Go on Sale…Which Are Really on the Value Menu?
- 3 Fintech Stocks With Good 2021 Prospects
- 5 Reasons to Buy and Hold Exxon Mobil For 2024
Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.
