FB Financial Corporation (NYSE:FBK – Get Free Report) Director Orrin Ingram II purchased 29,081 shares of FB Financial stock in a transaction on Tuesday, October 20th. The stock was bought at an average cost of $52.88 per share, for a total transaction of $1,537,803.28. Following the transaction, the director directly owned 124,391 shares in the company, valued at $6,577,796.08. This represents a 30.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
FB Financial Stock Performance
Shares of FBK opened at $52.10 on Thursday. FB Financial Corporation has a 1 year low of $49.24 and a 1 year high of $62.65. The stock has a market capitalization of $2.60 billion, a PE ratio of 11.58 and a beta of 0.98. The stock has a 50-day simple moving average of $54.91 and a 200-day simple moving average of $55.28.
FB Financial (NYSE:FBK – Get Free Report) last released its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. FB Financial had a net margin of 22.62% and a return on equity of 12.32%. The firm had revenue of $175.62 million for the quarter, compared to analyst estimates of $181.56 million. Analysts predict that FB Financial Corporation will post 4.65 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods reduced their price objective on shares of FB Financial from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Truist Financial set a $64.00 price objective on shares of FB Financial in a report on Wednesday, October 14th. Finally, Raymond James Financial lifted their price objective on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $64.43.
View Our Latest Stock Report on FB Financial
Institutional Investors Weigh In On FB Financial
Institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP purchased a new position in FB Financial in the second quarter valued at approximately $1,202,000. Dimensional Fund Advisors LP raised its holdings in FB Financial by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after purchasing an additional 28,023 shares in the last quarter. Jupiter Topco LLC acquired a new stake in FB Financial during the second quarter worth approximately $21,338,000. Penn Capital Management Company LLC raised its holdings in FB Financial by 21.2% during the second quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock worth $21,456,000 after purchasing an additional 67,656 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in shares of FB Financial during the 2nd quarter worth approximately $20,028,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
About FB Financial
FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.
FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.
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