Zacks Investment Research Lowers FB Financial Corporation (FBK) to Sell

Zacks Investment Research lowered shares of FB Financial Corporation (NYSE:FBK) from a hold rating to a sell rating in a research note released on Monday.

According to Zacks, “FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. “

A number of other research firms have also weighed in on FBK. ValuEngine raised shares of FB Financial Corporation from a hold rating to a buy rating in a report on Monday, September 18th. Stephens reaffirmed a buy rating and set a $40.00 target price on shares of FB Financial Corporation in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $36.00 target price on shares of FB Financial Corporation in a report on Thursday, August 3rd. Sandler O’Neill raised shares of FB Financial Corporation from a hold rating to a buy rating and upped their target price for the stock from $37.00 to $39.00 in a report on Tuesday, August 15th. Finally, UBS AG reaffirmed a buy rating and set a $41.00 target price (down previously from $44.00) on shares of FB Financial Corporation in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus target price of $39.67.

FB Financial Corporation (NYSE:FBK) traded down 0.66% during mid-day trading on Monday, hitting $37.39. 1,162 shares of the company traded hands. FB Financial Corporation has a one year low of $20.25 and a one year high of $38.94. The firm has a 50 day moving average of $36.90 and a 200 day moving average of $36.90. The firm has a market capitalization of $1.14 billion and a P/E ratio of 29.37.

FB Financial Corporation (NYSE:FBK) last posted its earnings results on Monday, July 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. The business had revenue of $66.08 million for the quarter, compared to analyst estimates of $65.99 million. FB Financial Corporation had a net margin of 11.57% and a return on equity of 11.57%. Equities research analysts expect that FB Financial Corporation will post $1.89 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of FBK. Teachers Advisors LLC bought a new position in shares of FB Financial Corporation in the 4th quarter worth $190,000. Wells Fargo & Company MN increased its holdings in shares of FB Financial Corporation by 14.8% in the 1st quarter. Wells Fargo & Company MN now owns 68,237 shares of the financial services provider’s stock worth $2,413,000 after buying an additional 8,774 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of FB Financial Corporation by 66.1% in the 1st quarter. Bank of New York Mellon Corp now owns 26,499 shares of the financial services provider’s stock worth $937,000 after buying an additional 10,543 shares during the last quarter. American International Group Inc. bought a new position in shares of FB Financial Corporation in the 1st quarter worth $144,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of FB Financial Corporation in the 1st quarter worth $480,000. 31.86% of the stock is currently owned by hedge funds and other institutional investors.

About FB Financial Corporation

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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