Wall Street Zen Upgrades FB Bancorp to Hold Amid Mixed Ratings

FB Bancorp (NASDAQ:FBLA) has received an upgraded rating from Wall Street Zen, moving from a “sell” to a “hold” in a research note published on Sunday. This change comes despite a contrasting assessment from Weiss Ratings, which reaffirmed a “sell (d-)” rating on the bank’s shares on Saturday. Currently, one research analyst has classified the stock as a “sell,” leading to an overall average rating of “sell,” according to data from MarketBeat.com.

Stock Performance and Recent Earnings

On Friday, shares of FB Bancorp opened at $11.98. The stock’s fifty-day moving average stands at $11.97, while the 200-day moving average is at $11.52. The company reported a current ratio of 1.07 and a quick ratio of 1.04, with a debt-to-equity ratio of 0.20. Over the past year, FB Bancorp has experienced a low of $9.81 and a high of $12.74.

FB Bancorp last announced its quarterly earnings results on August 14, 2023, revealing earnings per share of $0.05. The company generated revenue of $18.11 million during this period, reflecting a negative net margin of 5.40% and a negative return on equity of 1.62%.

Institutional Investment Activity

Recent trading activity has seen several institutional investors modifying their positions in FB Bancorp. Raffles Associates LP increased its stake by 6.8% during the second quarter, owning 78,664 shares valued at approximately $885,000 after acquiring an additional 5,000 shares.

Notably, BNP Paribas Financial Markets significantly raised its holdings by 1,365.2%, now possessing 31,297 shares worth $352,000 after buying 29,161 additional shares. Likewise, BlackBarn Capital Partners LP expanded its investment by 3.3%, owning 624,700 shares valued at $7.03 million after adding 20,000 shares in the last quarter.

Bank of America Corp DE also increased its stake by an impressive 467.5%, now holding 55,885 shares valued at $629,000 after purchasing an additional 46,037 shares. Lastly, Occudo Quantitative Strategies LP entered the market with a new position during the second quarter valued at $119,000.

FB Bancorp operates as a bank holding company for Fidelity Bank, offering a range of services including deposit accounts, mortgages, home equity and consumer loans, as well as online and mobile banking. The company is based in New Orleans.

As analysts continue to evaluate the stock, the contrasting ratings and recent trading activities underscore the complex dynamics surrounding FB Bancorp. Investors are advised to consider these developments when making decisions regarding their portfolios.