FB Financial Corporation (NYSE:FBK - Get Free Report) Director Orrin Ingram II purchased 29,081 shares of FB Financial stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the transaction, the director owned 124,391 shares of the company's stock, valued at $6,577,796.08. The trade was a 30.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
FB Financial Price Performance
NYSE FBK opened at $52.10 on Thursday. The company has a fifty day moving average of $54.91 and a two-hundred day moving average of $55.28. The company has a market capitalization of $2.60 billion, a PE ratio of 11.58 and a beta of 0.98. FB Financial Corporation has a 1 year low of $49.24 and a 1 year high of $62.65.
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 (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $181.56 million. On average, research analysts expect that FB Financial Corporation will post 4.65 earnings per share for the current year.
Hedge Funds Weigh In On FB Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in FB Financial in the 2nd quarter valued at about $348,592,000. Bank of America Corp DE purchased a new stake in FB Financial during the 2nd quarter valued at approximately $39,460,000. Davis Asset Management L.P. purchased a new stake in FB Financial during the 2nd quarter valued at approximately $34,275,000. Jupiter Topco LLC purchased a new stake in FB Financial during the 2nd quarter valued at approximately $21,338,000. Finally, William Blair Investment Management LLC acquired a new stake in FB Financial during the 2nd quarter worth approximately $20,028,000. Hedge funds and other institutional investors own 65.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Benchmark upped their target price on FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Raymond James Financial lifted their price target 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. Keefe, Bruyette & Woods reduced their price objective on FB Financial from $65.00 to $64.00 and set an "outperform" rating for the company in a research note on Wednesday, October 14th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of FB Financial in a research note on Wednesday, October 14th. Finally, Truist Financial set a $64.00 price objective on FB Financial in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, FB Financial has a consensus rating of "Buy" and an average price target of $64.43.
Check Out Our Latest Research Report on FBK
About FB Financial
(
Get Free Report)
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.
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