FB Financial (FBK) Stock Rating Lowered by Zacks Investment Research

FB Financial (NYSE:FBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Several other research analysts have also commented on the company. UBS began coverage on FB Financial in a research report on Thursday, March 22nd. They issued a “neutral” rating and a $44.00 price target for the company. ValuEngine lowered FB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, February 17th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. FB Financial has a consensus rating of “Hold” and a consensus price target of $42.17.

FB Financial traded up $0.71, hitting $43.08, on Thursday, according to MarketBeat.com. The company had a trading volume of 64,500 shares, compared to its average volume of 90,384. The firm has a market cap of $1.29 billion, a P/E ratio of 20.13 and a beta of 1.34. FB Financial has a 12-month low of $41.80 and a 12-month high of $42.04. The company has a current ratio of 0.94, a quick ratio of 0.82 and a debt-to-equity ratio of 0.23.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, April 24th. The financial services provider reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.03. The company had revenue of $81.70 million during the quarter, compared to analyst estimates of $81.30 million. FB Financial had a return on equity of 12.36% and a net margin of 18.61%. research analysts forecast that FB Financial will post 2.99 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of FB Financial by 13.2% during the fourth quarter. BlackRock Inc. now owns 709,517 shares of the financial services provider’s stock valued at $29,792,000 after buying an additional 82,755 shares during the period. Cardinal Capital Management LLC CT boosted its position in shares of FB Financial by 173.4% during the fourth quarter. Cardinal Capital Management LLC CT now owns 437,016 shares of the financial services provider’s stock valued at $18,351,000 after buying an additional 277,155 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of FB Financial by 132.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 51,006 shares of the financial services provider’s stock valued at $1,924,000 after buying an additional 29,040 shares during the period. Employees Retirement System of Texas purchased a new position in shares of FB Financial during the fourth quarter valued at approximately $1,638,000. Finally, CapWealth Advisors LLC boosted its position in shares of FB Financial by 1.7% during the fourth quarter. CapWealth Advisors LLC now owns 259,420 shares of the financial services provider’s stock valued at $10,893,000 after buying an additional 4,253 shares during the period. Institutional investors and hedge funds own 36.37% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

Get a free copy of the Zacks research report on FB Financial (FBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for FB Financial (NYSE:FBK)

Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply