FB Financial Corporation (NYSE:FBK) Announces Earnings Results

FB Financial Corporation (NYSE:FBK) issued its earnings results on Monday, July 24th. The financial services provider reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06, Bloomberg Earnings reports. The firm had revenue of $66.08 million for the quarter, compared to analyst estimates of $65.99 million. FB Financial Corporation had a return on equity of 13.09% and a net margin of 11.57%.

Shares of FB Financial Corporation (FBK) traded down 0.75% on Friday, hitting $33.00. The stock had a trading volume of 83,570 shares. The firm’s 50-day moving average is $34.92 and its 200-day moving average is $33.73. The company has a market cap of $955.94 million and a price-to-earnings ratio of 25.92. FB Financial Corporation has a one year low of $19.81 and a one year high of $38.59.

Several equities research analysts have commented on FBK shares. Sandler O’Neill lowered FB Financial Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Zacks Investment Research lowered FB Financial Corporation from a “buy” rating to a “sell” rating in a research report on Tuesday, April 18th. Keefe, Bruyette & Woods lowered FB Financial Corporation from an “outperform” rating to a “market perform” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, April 26th. Stephens restated a “buy” rating on shares of FB Financial Corporation in a research report on Monday, April 24th. Finally, UBS AG restated a “buy” rating and issued a $41.00 price objective (down previously from $44.00) on shares of FB Financial Corporation in a research report on Wednesday, July 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.20.

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Hedge funds have recently bought and sold shares of the stock. Banc Funds Co. LLC increased its stake in FB Financial Corporation by 8.8% in the second quarter. Banc Funds Co. LLC now owns 209,868 shares of the financial services provider’s stock worth $7,595,000 after buying an additional 17,000 shares during the period. Advisor Group Inc. increased its stake in FB Financial Corporation by 5.6% in the second quarter. Advisor Group Inc. now owns 8,919 shares of the financial services provider’s stock worth $323,000 after buying an additional 475 shares during the period. Vanguard Group Inc. increased its stake in FB Financial Corporation by 15.6% in the second quarter. Vanguard Group Inc. now owns 302,864 shares of the financial services provider’s stock worth $10,960,000 after buying an additional 40,799 shares during the period. Nationwide Fund Advisors increased its stake in FB Financial Corporation by 78.1% in the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after buying an additional 1,732 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in FB Financial Corporation by 52.0% in the second quarter. TIAA CREF Investment Management LLC now owns 17,805 shares of the financial services provider’s stock worth $644,000 after buying an additional 6,093 shares during the period. Hedge funds and other institutional investors own 21.68% of the company’s stock.

FB Financial Corporation Company Profile

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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