Wall Street Zen Downgrades FB Financial (NYSE:FBK) to Sell

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

Other analysts also recently issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Piper Sandler increased their price objective on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, FB Financial presently has an average rating of “Moderate Buy” and an average target price of $60.80.

FB Financial Stock Performance

Shares of FBK stock traded up $0.89 during mid-day trading on Friday, reaching $55.10. 300,977 shares of the company’s stock traded hands, compared to its average volume of 406,463. The firm has a market capitalization of $2.97 billion, a PE ratio of 25.75 and a beta of 0.97. FB Financial has a 12 month low of $38.83 and a 12 month high of $60.51. The firm has a 50 day moving average price of $54.83 and a two-hundred day moving average price of $49.35.

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

Hedge Funds Weigh In On FB Financial

A number of large investors have recently bought and sold shares of the business. Lbmc Investment Advisors LLC bought a new stake in shares of FB Financial in the second quarter valued at about $254,000. Envestnet Asset Management Inc. raised its holdings in shares of FB Financial by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider’s stock valued at $8,924,000 after purchasing an additional 3,779 shares in the last quarter. Ieq Capital LLC purchased a new stake in shares of FB Financial in the 1st quarter worth approximately $245,000. Keystone Financial Group Inc. purchased a new stake in shares of FB Financial in the 2nd quarter worth approximately $2,473,000. Finally, Trexquant Investment LP bought a new position in shares of FB Financial during the first quarter valued at approximately $769,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.