FB Financial (NYSE:FBK) Upgraded to Overweight by Piper Sandler

Piper Sandler upgraded shares of FB Financial (NYSE:FBK) from a neutral rating to an overweight rating in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has $41.00 price objective on the financial services provider’s stock, up from their previous price objective of $38.00.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of FB Financial from a hold rating to a sell rating in a report on Thursday, March 21st. Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and increased their target price for the company from $40.00 to $40.50 in a research note on Tuesday. Finally, Stephens decreased their price objective on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, FB Financial has an average rating of Hold and a consensus price target of $39.43.

FB Financial Stock Up 2.4 %

Shares of NYSE:FBK opened at $36.41 on Tuesday. FB Financial has a fifty-two week low of $24.34 and a fifty-two week high of $41.00. The firm has a 50-day simple moving average of $35.96 and a 200 day simple moving average of $35.17. The company has a market cap of $1.71 billion, a PE ratio of 15.30 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The firm had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter in the prior year, the firm earned $0.85 EPS. As a group, research analysts forecast that FB Financial will post 2.99 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is 28.57%.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was bought at an average price of $38.20 per share, with a total value of $76,400.00. Following the purchase, the insider now directly owns 10,881,841 shares of the company’s stock, valued at approximately $415,686,326.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were acquired at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the acquisition, the insider now owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders purchased 7,000 shares of company stock valued at $256,830 in the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in shares of FB Financial by 570.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 833 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of FB Financial during the 3rd quarter valued at $31,000. GAMMA Investing LLC bought a new position in shares of FB Financial during the 4th quarter valued at $43,000. Point72 Hong Kong Ltd raised its holdings in FB Financial by 413.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 1,301 shares during the period. Finally, Point72 Middle East FZE raised its holdings in FB Financial by 111.6% in the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 876 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.