FB Financial (NYSE:FBK) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of FB Financial (NYSE:FBK) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $61.00 target price on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, FB Financial currently has an average rating of “Buy” and an average target price of $58.80.

FB Financial Price Performance

FB Financial stock opened at $53.14 on Wednesday. FB Financial has a 1-year low of $38.83 and a 1-year high of $58.88. The firm has a market capitalization of $2.86 billion, a P/E ratio of 27.53 and a beta of 0.93. The company’s 50-day moving average is $50.03 and its 200 day moving average is $46.46.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. Research analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial’s dividend payout ratio is presently 39.38%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBK. Nuveen LLC acquired a new position in shares of FB Financial in the 1st quarter valued at $39,275,000. Qube Research & Technologies Ltd raised its position in FB Financial by 61.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock worth $14,295,000 after buying an additional 120,561 shares during the last quarter. Invesco Ltd. raised its position in FB Financial by 93.9% during the 1st quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider’s stock worth $9,463,000 after buying an additional 98,843 shares during the last quarter. Marshall Wace LLP grew its stake in shares of FB Financial by 130.8% during the 2nd quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider’s stock worth $6,382,000 after purchasing an additional 79,841 shares during the period. Finally, State Street Corp grew its stake in shares of FB Financial by 4.9% during the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock worth $73,437,000 after purchasing an additional 75,951 shares during the period. Institutional investors and hedge funds 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.