FB Financial (NYSE:FBK) Upgraded at Piper Sandler

Piper Sandler upgraded shares of FB Financial (NYSE:FBK) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $41.00 price target on the financial services provider’s stock, up from their previous price target of $38.00.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of FB Financial from a hold rating to a sell rating in a research note on Thursday, March 21st. Stephens reduced their price target on FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research report on Wednesday, January 17th. Finally, Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and upped their price objective for the company from $40.00 to $40.50 in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $37.67.

FB Financial Stock Up 4.5 %

Shares of FBK stock opened at $36.19 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.15. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00. The stock has a 50-day moving average price of $35.96 and a 200 day moving average price of $35.11.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. FB Financial had a net margin of 16.05% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.85 EPS. Sell-side analysts predict that FB Financial will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.17 dividend. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio is currently 26.46%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On FB Financial

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of FB Financial by 570.5% during the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after buying an additional 833 shares during the period. Lazard Asset Management LLC acquired a new position in FB Financial during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new position in FB Financial during the 4th quarter worth approximately $43,000. Point72 Middle East FZE grew its stake in shares of FB Financial by 111.6% during 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 in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of FB Financial in the third quarter valued at approximately $71,000. Institutional investors own 65.40% of the company’s stock.

About FB Financial

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.