Hovde Group Downgrades FB Financial (NYSE:FBK) to Market Perform

FB Financial (NYSE:FBK) was downgraded by equities researchers at Hovde Group from an “outperform” rating to a “market perform” rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $60.00 price objective on the financial services provider’s stock. Hovde Group’s price target would indicate a potential upside of 9.63% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $48.60.

FB Financial Stock Down 0.1 %

FBK opened at $54.73 on Monday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 23.92 and a beta of 1.12. FB Financial has a twelve month low of $32.09 and a twelve month high of $58.88. The company’s 50-day moving average price is $48.99 and its two-hundred day moving average price is $43.96.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, sell-side analysts anticipate that FB Financial will post 3.38 earnings per share for the current year.

Insider Activity at FB Financial

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the sale, the director now directly owns 54,078 shares in the company, valued at $3,148,421.16. This represents a 8.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the purchase, the insider now directly owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 13,000 shares of company stock worth $658,460. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in FB Financial in the 3rd quarter worth approximately $47,000. nVerses Capital LLC purchased a new stake in FB Financial in the 3rd quarter worth approximately $84,000. Point72 DIFC Ltd purchased a new stake in FB Financial in the 3rd quarter worth approximately $110,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FB Financial in the 3rd quarter worth approximately $124,000. Finally, Raymond James Trust N.A. bought a new position in shares of FB Financial in the 3rd quarter worth $201,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.