FB Financial (NYSE:FBK) Upgraded by Hovde Group to “Outperform”

Hovde Group upgraded shares of FB Financial (NYSE:FBK) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat.com reports. They currently have $40.50 price target on the financial services provider’s stock, up from their prior price target of $40.00.

A number of other brokerages have also recently commented on FBK. Stephens reduced their target price on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, January 17th. StockNews.com downgraded shares of FB Financial from a hold rating to a sell rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, FB Financial presently has an average rating of Hold and a consensus target price of $37.67.

FB Financial Price Performance

NYSE FBK opened at $36.19 on Tuesday. The stock’s 50 day simple moving average is $35.96 and its 200-day simple moving average is $35.11. The company has a market cap of $1.70 billion, a PE ratio of 14.08 and a beta of 1.15. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. The firm had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. During the same period in the prior year, the company earned $0.85 EPS. On average, equities research analysts anticipate that FB Financial will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

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

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC raised its holdings in shares of FB Financial by 0.7% in the 2nd quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 249 shares during the period. SummerHaven Investment Management LLC increased its stake in FB Financial by 1.1% during the fourth quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 278 shares during the period. American International Group Inc. lifted its position in shares of FB Financial by 1.6% during the second quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 314 shares in the last quarter. Mariner LLC boosted its stake in shares of FB Financial by 1.6% in the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 323 shares during the period. Finally, Osaic Holdings Inc. grew its holdings in shares of FB Financial by 15.2% in the second quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other 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.