FB Financial (NYSE:FBK) Given New $43.00 Price Target at JPMorgan Chase & Co.

FB Financial (NYSE:FBK) had its price objective lifted by JPMorgan Chase & Co. from $41.00 to $43.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.18% from the stock’s previous close.

FBK has been the subject of several other research reports. Stephens reduced their price objective 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. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $40.50 in a report on Tuesday. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and upped their target price for the company from $38.00 to $41.00 in a report on Tuesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $38.00 target price on shares of FB Financial in a report on Wednesday. Finally, StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.43.

FB Financial Stock Performance

Shares of FBK traded down $0.37 during midday trading on Wednesday, hitting $35.78. 168,712 shares of the stock traded hands, compared to its average volume of 132,473. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00. The firm has a market capitalization of $1.68 billion, a PE ratio of 15.11 and a beta of 1.15. The business’s 50 day moving average price is $35.96 and its two-hundred day moving average price is $35.11.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.34%. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts forecast that FB Financial will post 2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was purchased at an average price of $38.20 per share, with a total value of $76,400.00. Following the completion of the transaction, the insider now directly owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was purchased at an average price of $38.20 per share, with a total value of $76,400.00. Following the completion of the transaction, the insider now directly owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers acquired 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders purchased 7,000 shares of company stock valued at $256,830 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

Several hedge funds have recently modified their holdings of FBK. Tower Research Capital LLC TRC raised its stake in shares of FB Financial by 570.5% in the first 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 acquired a new position in FB Financial during the third quarter worth $31,000. GAMMA Investing LLC acquired a new position in FB Financial during the fourth quarter worth $43,000. Point72 Hong Kong Ltd raised its stake in FB Financial by 413.0% during the first quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Point72 Middle East FZE raised its stake in FB Financial by 111.6% during the second 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 in the last quarter. 65.40% of the stock is owned by institutional investors.

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.