Wall Street Zen Upgrades FB Bancorp Stock Rating to Hold

FB Bancorp (NASDAQ:FBLA) received an upgraded stock rating from Wall Street Zen, moving from a “sell” to a “hold” in a research note released on Sunday. This shift follows a separate report from Weiss Ratings, which reaffirmed a “sell (d-)” rating for the company on Saturday. Currently, one research analyst categorizes the stock as a sell, and according to data from MarketBeat.com, the overall average rating for FB Bancorp remains at “sell.”

Current Stock Performance and Financials

Shares of FB Bancorp opened at $11.98 on Friday. The company has a fifty-day moving average price of $11.97 and a 200-day moving average price of $11.52. Key financial ratios indicate a current ratio of 1.07, a quick ratio of 1.04, and a debt-to-equity ratio of 0.20. Over the past year, the stock has experienced a low of $9.81 and a high of $12.74.

FB Bancorp recently announced its quarterly earnings on August 14, 2023, reporting earnings of $0.05 per share and revenue of $18.11 million. The company had a negative net margin of 5.40% and a negative return on equity of 1.62%, indicating challenges in profitability.

Institutional Investment Trends

Recent institutional trading activity shows varied movements in stakes held in FB Bancorp. Raffles Associates LP increased its stake by 6.8% during the second quarter, now owning 78,664 shares valued at approximately $885,000. Meanwhile, BNP Paribas Financial Markets raised its position significantly by 1,365.2%, acquiring an additional 29,161 shares, bringing its total to 31,297 shares valued at $352,000.

BlackBarn Capital Partners LP also expanded its holdings by 3.3%, now owning 624,700 shares worth around $7.03 million after purchasing an extra 20,000 shares. Bank of America Corp DE notably increased its stake by 467.5%, acquiring an additional 46,037 shares to hold a total of 55,885 shares valued at approximately $629,000. Occudo Quantitative Strategies LP entered the market with a new position valued at $119,000 during the same period.

FB Bancorp operates as a bank holding company for Fidelity Bank, based in New Orleans. Through its subsidiaries, the company provides various financial services, including deposit accounts, mortgages, home equity loans, credit and debit cards, as well as online and mobile banking solutions.

The ongoing fluctuations in stock ratings and institutional interest reflect a dynamic environment for FB Bancorp as it navigates its financial performance and market perception.