FB Financial Corp's stock experienced a significant drop of 5.15% during intraday trading on Friday, marking a sharp decline for the financial services company.
The sell-off followed a pre-market announcement from Piper Sandler, which downgraded FB Financial from Overweight to Neutral. The firm also adjusted its price target for the stock to $65 from $63. Analyst downgrades typically signal reduced confidence in a company's near-term prospects and often trigger negative market sentiment.
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