FB Financial (NYSE:FBK) Upgraded at Raymond James Financial

FB Financial (NYSE:FBK) was upgraded by analysts at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a report released on Tuesday,Benzinga reports. The brokerage currently has a $62.00 price objective on the financial services provider’s stock. Raymond James Financial’s price target points to a potential upside of 15.66% from the company’s current price.

FBK has been the topic of several other research reports. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target on the stock in a research report on Thursday, April 2nd. Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $62.75.

FB Financial Price Performance

FBK opened at $53.60 on Tuesday. The company’s 50 day simple moving average is $55.30 and its two-hundred day simple moving average is $55.97. FB Financial has a 1-year low of $39.15 and a 1-year high of $62.37. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 22.34 and a beta of 0.98.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. The firm had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same quarter in the previous year, the company earned $0.85 EPS. On average, equities analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of FB Financial stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the sale, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

Institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new stake in FB Financial in the 3rd quarter valued at approximately $26,000. CIBC Private Wealth Group LLC acquired a new stake in FB Financial in the 4th quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC acquired a new stake in FB Financial in the 3rd quarter valued at approximately $31,000. Finally, Assetmark Inc. acquired a new stake in FB Financial in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

About FB Financial

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.