FB Financial (NYSE:FBK) Stock Keeps Overweight Rating at Cantor Fitzgerald

by · The Cerbat Gem

FB Financial (NYSE:FBK – Get Free Report)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Wednesday, Benzinga reports. They currently have a $65.00 target price on the financial services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 28.41% from the company’s previous close.

FBK has been the subject of a number of other reports. Raymond James Financial lifted their price objective on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Benchmark lifted their price objective on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Finally, Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.67.

Get Our Latest Report on FB Financial

FB Financial Trading Down 4.4%

Shares of NYSE FBK opened at $50.62 on Wednesday. FB Financial has a twelve month low of $49.24 and a twelve month high of $62.65. The stock has a fifty day simple moving average of $56.07 and a 200-day simple moving average of $55.30. The stock has a market capitalization of $2.53 billion, a PE ratio of 13.57 and a beta of 0.98.

FB Financial (NYSE:FBK – Get Free Report) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. The business had revenue of $175.62 million during the quarter, compared to analysts’ expectations of $181.57 million. On average, equities analysts predict that FB Financial will post 4.67 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP acquired a new position in FB Financial during the 2nd quarter worth $1,202,000. Dimensional Fund Advisors LP grew its stake in FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after purchasing an additional 28,023 shares in the last quarter. Jupiter Topco LLC acquired a new position in FB Financial during the 2nd quarter worth $21,338,000. Penn Capital Management Company LLC boosted its position in shares of FB Financial by 21.2% during the 2nd quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock worth $21,456,000 after acquiring an additional 67,656 shares in the last quarter. Finally, William Blair Investment Management LLC purchased a new position in shares of FB Financial in the 2nd quarter valued at about $20,028,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Key FB Financial News

Here are the key news stories impacting FB Financial this week:

FB Financial Company Profile

(Get Free Report)

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.

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