FB Financial (NYSE:FBK) Upgraded by Piper Sandler to Overweight Rating

FB Financial (NYSE:FBK) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a $65.00 price target on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 23.21% from the company’s previous close.

Separately, Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $63.00.

FB Financial Trading Up 1.6%

Shares of FB Financial stock opened at $52.75 on Thursday. FB Financial has a 12 month low of $38.83 and a 12 month high of $62.37. The firm has a market capitalization of $2.73 billion, a P/E ratio of 21.98 and a beta of 0.98. The business has a fifty day simple moving average of $55.61 and a two-hundred day simple moving average of $55.94.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. The company had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. During the same period last year, the business earned $0.85 EPS. Analysts predict that FB Financial will post 3.64 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This represents a 47.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after buying an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after acquiring an additional 930 shares in the last quarter. Millennium Management LLC boosted its stake in FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after purchasing an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in FB Financial during the 1st quarter valued at $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of FB Financial by 39.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after purchasing an additional 22,662 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.