FB Financial (NYSE:FBK) Raised to Outperform at Hovde Group

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. The brokerage currently has $40.50 price objective on the financial services provider’s stock, up from their prior price objective of $40.00.

A number of other research analysts also recently weighed in on FBK. StockNews.com downgraded shares of FB Financial from a hold rating to a sell rating in a research report on Thursday, March 21st. 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $39.43.

FB Financial Stock Down 0.2 %

FB Financial stock opened at $35.56 on Tuesday. FB Financial has a twelve month low of $24.34 and a twelve month high of $41.00. The firm has a 50 day moving average price of $35.96 and a 200-day moving average price of $35.12. The company has a market capitalization of $1.67 billion, a P/E ratio of 14.94 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. 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 firm earned $0.85 EPS. Equities analysts expect that FB Financial will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a dividend of $0.17 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s dividend payout ratio is presently 28.57%.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction 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 purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction 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 purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the purchase, the insider now directly owns 10,886,841 shares in the company, valued at $395,736,670.35. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,000 shares of company stock worth $256,830. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently bought and sold shares of FBK. JPMorgan Chase & Co. raised its position in shares of FB Financial by 9.6% during the 1st quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock valued at $4,210,000 after buying an additional 8,263 shares in the last quarter. American Century Companies Inc. raised its position in shares of FB Financial by 20.4% during the 1st quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock valued at $1,908,000 after buying an additional 7,283 shares in the last quarter. Citigroup Inc. raised its position in shares of FB Financial by 16.3% during the 1st quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock valued at $1,404,000 after buying an additional 4,442 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of FB Financial by 57.4% during the 1st quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock valued at $763,000 after buying an additional 6,267 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of FB Financial by 2.9% during the 1st quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock valued at $4,129,000 after buying an additional 2,589 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.