FB Financial Corporation (NYSE:FBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
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. “
A number of other research analysts have also issued reports on the stock. ValuEngine upgraded shares of FB Financial Corporation from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Sandler O’Neill upgraded shares of FB Financial Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $37.00 to $39.00 in a research note on Tuesday, August 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $36.00 price target on shares of FB Financial Corporation in a research note on Thursday, August 3rd. Stephens restated a “buy” rating and set a $40.00 price target on shares of FB Financial Corporation in a research note on Monday, July 31st. Finally, UBS AG restated a “buy” rating and set a $41.00 price target (down previously from $44.00) on shares of FB Financial Corporation in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. FB Financial Corporation has an average rating of “Buy” and an average target price of $37.29.
Shares of FB Financial Corporation (FBK) opened at 38.25 on Monday. FB Financial Corporation has a one year low of $20.25 and a one year high of $38.94. The stock has a market cap of $1.17 billion and a PE ratio of 30.05. The company has a 50-day moving average of $36.81 and a 200 day moving average of $36.81.
FB Financial Corporation (NYSE:FBK) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. FB Financial Corporation had a net margin of 11.57% and a return on equity of 11.57%. The business had revenue of $66.08 million for the quarter, compared to analyst estimates of $65.99 million. On average, analysts predict that FB Financial Corporation will post $1.90 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors boosted its holdings in shares of FB Financial Corporation by 78.1% in the 2nd quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 1,732 shares during the last quarter. American International Group Inc. purchased a new stake in shares of FB Financial Corporation in the 1st quarter valued at $144,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of FB Financial Corporation in the 1st quarter valued at $179,000. Teachers Advisors LLC purchased a new stake in shares of FB Financial Corporation in the 4th quarter valued at $190,000. Finally, IFC Holdings Incorporated FL purchased a new stake in shares of FB Financial Corporation in the 2nd quarter valued at $239,000. 31.86% of the stock is currently owned by institutional investors and hedge funds.
FB Financial Corporation Company Profile
FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.
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