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 report sent to investors on Tuesday morning.

A number of other analysts have also recently weighed in on FBK. Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and upped their target price for the company from $40.00 to $40.50 in a research note on Tuesday. Piper Sandler raised shares of FB Financial from a neutral rating to an overweight rating and upped their target price for the company from $38.00 to $41.00 in a research note on Tuesday. Finally, Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial currently has an average rating of Hold and an average target price of $37.67.

FB Financial Stock Performance

NYSE:FBK opened at $36.19 on Tuesday. The firm’s 50-day moving average is $35.96 and its 200-day moving average is $35.11. FB Financial has a 52-week low of $24.34 and a 52-week high of $41.00. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 14.08 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.85 EPS. Equities analysts predict that FB Financial will post 2.84 EPS for the current year.

FB Financial Increases Dividend

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

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the transaction, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the transaction, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders have bought a total of 7,000 shares of company stock worth $256,830 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its holdings in FB Financial by 570.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after buying an additional 833 shares during the period. Lazard Asset Management LLC acquired a new position in FB Financial in the third quarter valued at approximately $31,000. GAMMA Investing LLC acquired a new position in FB Financial in the fourth quarter valued at approximately $43,000. Point72 Middle East FZE lifted its holdings in FB Financial by 111.6% in the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock valued at $47,000 after buying an additional 876 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in FB Financial in the third quarter valued at approximately $71,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.