FB Financial (NYSE:FBK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of FB Financial (NYSE:FBK) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. “

Other equities research analysts have also issued reports about the company. TheStreet lowered FB Financial from a b rating to a c+ rating in a research report on Friday, March 6th. ValuEngine raised FB Financial from a sell rating to a hold rating in a research report on Thursday, June 4th. SunTrust Banks increased their price target on FB Financial from $24.00 to $27.00 and gave the company a buy rating in a research report on Friday, May 1st. Finally, UBS Group decreased their target price on FB Financial from $41.00 to $18.50 and set a neutral rating for the company in a research report on Monday, April 6th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $33.60.

Shares of FBK opened at $23.98 on Tuesday. FB Financial has a 12-month low of $14.38 and a 12-month high of $40.33. The business’s fifty day moving average is $23.62 and its 200 day moving average is $28.55. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 0.04. The stock has a market cap of $769.32 million, a P/E ratio of 11.70 and a beta of 1.43.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, April 27th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). FB Financial had a return on equity of 9.82% and a net margin of 14.92%. The firm had revenue of $98.95 million during the quarter, compared to the consensus estimate of $89.00 million. On average, analysts expect that FB Financial will post 1.72 EPS for the current year.

In other news, Chairman James W. Ayers purchased 14,500 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $21.42 per share, for a total transaction of $310,590.00. Following the purchase, the chairman now owns 13,563,990 shares of the company’s stock, valued at $290,540,665.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raja J. Jubran purchased 9,142 shares of the business’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average price of $21.88 per share, with a total value of $200,026.96. Following the purchase, the director now directly owns 5,810 shares in the company, valued at approximately $127,122.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 72,939 shares of company stock valued at $1,606,925. Insiders own 45.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its stake in shares of FB Financial by 1.5% during the 1st quarter. Swiss National Bank now owns 33,000 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 500 shares during the period. Bank of Montreal Can boosted its stake in FB Financial by 44.8% in the 4th quarter. Bank of Montreal Can now owns 2,161 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 669 shares during the period. Principal Financial Group Inc. boosted its stake in FB Financial by 16.3% in the 4th quarter. Principal Financial Group Inc. now owns 6,756 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 948 shares during the period. TD Asset Management Inc. boosted its stake in FB Financial by 2.5% in the 4th quarter. TD Asset Management Inc. now owns 41,774 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 1,000 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in FB Financial by 4.6% in the 1st quarter. Alliancebernstein L.P. now owns 27,100 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 54.42% 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 businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

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