FB Financial (NYSE:FBK) PT Raised to $43.00

FB Financial (NYSE:FBK) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.92% from the stock’s previous close.

A number of other brokerages have also recently weighed in on FBK. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $40.50 in a report on Tuesday. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $41.00 in a report on Tuesday. Stephens reduced their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of FB Financial in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, FB Financial presently has an average rating of “Hold” and an average price target of $39.43.

FB Financial Price Performance

NYSE FBK opened at $35.56 on Wednesday. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00. The firm has a market capitalization of $1.67 billion, a PE ratio of 14.94 and a beta of 1.15. The company’s 50 day simple moving average is $35.96 and its 200 day simple moving average is $35.12.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. During the same period last year, the firm posted $0.85 earnings per share. Sell-side analysts anticipate that FB Financial will post 2.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares in the company, valued at $395,736,670.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders purchased a total of 7,000 shares of company stock worth $256,830 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of 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 in the last quarter. Lazard Asset Management LLC bought a new position in shares of FB Financial during the 3rd quarter valued at $31,000. GAMMA Investing LLC bought a new position in shares of FB Financial during the 4th quarter valued at $43,000. Point72 Middle East FZE raised its holdings in FB Financial by 111.6% in the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 876 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in FB Financial in the 3rd quarter worth $71,000. 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.