FB Financial (NYSE:FBK) Upgraded at StockNews.com

StockNews.com upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a research note released on Tuesday.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reduced their target price on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a research note on Thursday, April 17th. Piper Sandler reduced their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Stephens reduced their target price on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.80.

FB Financial Stock Performance

Shares of FBK stock opened at $45.94 on Tuesday. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 18.60 and a beta of 0.93. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88. The firm’s 50-day simple moving average is $44.04 and its two-hundred day simple moving average is $49.68.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Analysts forecast that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.65%. FB Financial’s payout ratio is presently 27.94%.

Insider Buying and Selling at FB Financial

In related news, Director James W. Iv Cross bought 7,200 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $48.51 per share, with a total value of $97,020.00. Following the completion of the acquisition, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. The trade was a 0.02% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its holdings in shares of FB Financial by 13.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 61,301 shares of the financial services provider’s stock worth $2,842,000 after acquiring an additional 7,482 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of FB Financial in the 1st quarter worth approximately $769,000. Wealth Preservation Advisors LLC bought a new stake in shares of FB Financial in the 1st quarter worth approximately $881,000. Ieq Capital LLC bought a new stake in shares of FB Financial in the 1st quarter worth approximately $245,000. Finally, Penn Capital Management Company LLC lifted its holdings in shares of FB Financial by 8.2% in the 1st quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider’s stock worth $12,861,000 after acquiring an additional 21,026 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

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.