FB Financial Corporation (NYSE:FBK) Stock Has Average Price Target of $64.43

FB Financial Corporation (NYSE:FBK) has been given an average recommendation of “Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $64.43.

A number of analysts have weighed in on FBK shares. Weiss Ratings upgraded FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Raymond James Financial lifted their target price on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. Truist Financial set a $64.00 target price on shares of FB Financial in a research note on Wednesday, October 14th. Benchmark upped their price target on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of FB Financial in a report on Wednesday, October 14th.

FB Financial Stock Performance

Shares of NYSE FBK opened at $52.10 on Thursday. FB Financial has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 11.58 and a beta of 0.98. The business’s 50 day moving average price is $54.91 and its 200-day moving average price is $55.28.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The company had revenue of $175.62 million during the quarter, compared to analysts’ expectations of $181.56 million. Sell-side analysts predict that FB Financial will post 4.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Orrin Ingram, II acquired 29,081 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average price of $52.88 per share, for a total transaction of $1,537,803.28. Following the acquisition, the director directly owned 124,391 shares of the company’s stock, valued at $6,577,796.08. This represents a 30.51% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Simplicity Wealth LLC boosted its holdings in shares of FB Financial by 1.2% in the first quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 190 shares during the period. GAMMA Investing LLC raised its position in FB Financial by 9.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,562 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 216 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in FB Financial by 1.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock valued at $1,041,000 after purchasing an additional 235 shares in the last quarter. Arizona State Retirement System raised its position in FB Financial by 3.4% during the 2nd quarter. Arizona State Retirement System now owns 12,159 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 395 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in shares of 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 buying an additional 400 shares during the period. 65.40% of the stock is currently owned by institutional investors.

FB Financial Company Profile

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.