FB Financial (NYSE:FBK) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

A number of other equities analysts have also issued reports on the company. Piper Sandler raised FB Financial from a neutral rating to an overweight rating and increased their price target for the company from $38.00 to $41.00 in a research note on Tuesday. Stephens reduced their price objective on FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research note on Wednesday, January 17th. Finally, Hovde Group raised FB Financial from a market perform rating to an outperform rating and raised their price objective for the stock from $40.00 to $40.50 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $39.43.

FB Financial Stock Performance

Shares of NYSE FBK opened at $36.41 on Tuesday. The stock has a fifty day moving average price of $35.96 and a two-hundred day moving average price of $35.17. The firm has a market cap of $1.71 billion, a P/E ratio of 15.30 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 issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $116.43 million during the quarter, compared to analyst estimates of $121.58 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. During the same period last year, the company posted $0.85 EPS. On average, research analysts predict that FB Financial will post 2.99 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.17 per share. 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 annualized dividend and a dividend yield of 1.87%. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was acquired 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 directly owns 10,881,841 shares in the company, valued at approximately $415,686,326.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was acquired at an average cost of $38.20 per share, with a total value of $76,400.00. Following 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 acquired a total of 7,000 shares of company stock valued at $256,830 over the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

Several hedge funds and other institutional investors have recently modified their holdings of FBK. BlackRock Inc. raised its holdings in shares of FB Financial by 1.3% during the second quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock worth $176,641,000 after acquiring an additional 78,805 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of FB Financial by 7.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after acquiring an additional 348,790 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of FB Financial by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after acquiring an additional 49,313 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after acquiring an additional 40,394 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its holdings in shares of FB Financial by 17.7% during the first quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after acquiring an additional 237,256 shares in the last quarter. 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.