FB Financial (NYSE:FBK) Earns “Overweight” Rating from Cantor Fitzgerald

FB Financial (NYSE:FBK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They currently have a $65.00 price objective on the financial services provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 26.02% from the company’s previous close.

A number of other analysts have also recently issued reports on FBK. Weiss Ratings upgraded FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Raymond James Financial boosted their target price on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Finally, Benchmark boosted their target price on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $64.43.

FB Financial Stock Performance

Shares of NYSE:FBK traded up $0.10 during trading on Wednesday, reaching $51.58. 468,645 shares of the stock were exchanged, compared to its average volume of 376,098. FB Financial has a 12-month low of $49.24 and a 12-month high of $62.65. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 11.46 and a beta of 0.98. The firm’s 50-day moving average price is $55.47 and its 200 day moving average price is $55.27.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The business had revenue of $175.62 million during the quarter, compared to analysts’ expectations of $181.57 million. As a group, equities research analysts forecast that FB Financial will post 4.65 EPS for the current year.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Simplicity Wealth LLC boosted its holdings in FB Financial by 1.2% in the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock worth $841,000 after acquiring an additional 190 shares during the period. GAMMA Investing LLC boosted its holdings in FB Financial by 9.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,562 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 216 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in FB Financial by 1.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock worth $1,041,000 after acquiring an additional 235 shares during the period. Arizona State Retirement System boosted its holdings in FB Financial by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 12,159 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 395 shares during the period. Finally, Toth Financial Advisory Corp boosted its holdings in FB Financial by 4.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 9,695 shares of the financial services provider’s stock worth $537,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a regional branch network and digital banking channels.

FirstBank’s offerings include personal and business deposit accounts, residential and commercial real estate lending, consumer loans, commercial and industrial financing, treasury management, wealth management and mortgage banking services.