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Strength Seen in FB Financial (FBK): Can Its 5.2% Jump Turn into More Strength?

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FB Financial (FBK) shares soared 5.2% in the last trading session to close at $45.15. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.7% gain over the past four weeks.

Increasing optimism over an accelerated recovery of the banking sector driven by extensive vaccination drive, additional government spending and an expectation of robust economic growth has been driving the stock higher, which touched a new 52-week high of $45.63 in last day's trading.

Price and Consensus

Price Consensus Chart for FB Financial
Price Consensus Chart for FB Financial

This bank holding company is expected to post quarterly earnings of $0.85 per share in its upcoming report, which represents a year-over-year change of +400%. Revenues are expected to be $153.22 million, up 54.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For FB Financial, the consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on FBK going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


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