Zacks Investment Research Upgrades FB Financial (FBK) to Buy

FB Financial (NYSE:FBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $47.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.43% from the company’s current price.

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 equities research analysts have also recently commented on FBK. ValuEngine upgraded shares of FB Financial from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Raymond James Financial started coverage on shares of FB Financial in a report on Tuesday, October 10th. They issued an “outperform” rating and a $41.00 price target for the company. UBS Group raised their price target on shares of FB Financial from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $42.00 price objective on shares of FB Financial in a report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. FB Financial currently has a consensus rating of “Buy” and an average target price of $42.33.

FB Financial (NYSE:FBK) traded up $0.24 during trading hours on Wednesday, reaching $43.75. 203,500 shares of the company’s stock were exchanged, compared to its average volume of 149,133. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.83. The firm has a market capitalization of $1,328.23, a PE ratio of 29.76 and a beta of 2.28. FB Financial has a 1-year low of $23.71 and a 1-year high of $44.81.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.13. The business had revenue of $81.43 million during the quarter, compared to analysts’ expectations of $76.35 million. FB Financial had a net margin of 13.61% and a return on equity of 11.90%. research analysts forecast that FB Financial will post 2.05 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of FB Financial by 70.9% during the third quarter. Legal & General Group Plc now owns 3,195 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,326 shares in the last quarter. Nationwide Fund Advisors raised its position in FB Financial by 78.1% in the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,732 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in FB Financial in the third quarter worth about $202,000. Rhumbline Advisers bought a new stake in FB Financial in the second quarter worth about $254,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in FB Financial in the second quarter worth about $258,000. Hedge funds and other institutional investors own 35.34% of the company’s stock.

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FB Financial Company Profile

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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