FB Financial (NYSE:FBK) Stock Rating Lowered by Wall Street Zen

FB Financial (NYSE:FBK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

FBK has been the subject of a number of other research reports. Piper Sandler raised their target price on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised shares of FB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, FB Financial has a consensus rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Price Performance

NYSE:FBK traded up $0.89 during trading hours on Friday, hitting $55.10. The company had a trading volume of 300,977 shares, compared to its average volume of 406,463. The stock has a 50-day moving average price of $54.83 and a 200 day moving average price of $49.35. The company has a market capitalization of $2.97 billion, a PE ratio of 25.75 and a beta of 0.97. FB Financial has a 52 week low of $38.83 and a 52 week high of $60.51.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The company had revenue of $163.71 million during the quarter. Analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in FB Financial by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,957,794 shares of the financial services provider’s stock valued at $164,867,000 after buying an additional 483,191 shares during the last quarter. State Street Corp grew its holdings in shares of FB Financial by 4.9% in the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock worth $73,437,000 after acquiring an additional 75,951 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in FB Financial during the third quarter valued at $48,674,000. Nuveen LLC bought a new position in FB Financial in the first quarter valued at about $39,275,000. Finally, Leeward Investments LLC MA bought a new position in FB Financial in the third quarter valued at about $20,680,000. 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.