Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for FB Financial (NYSE:FBK)

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of FB Financial (NYSE:FBK) in a report released on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $38.00 target price on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and lifted their price objective for the stock from $38.00 to $41.00 in a research report on Tuesday. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and raised their target price for the company from $40.00 to $40.50 in a research note on Tuesday. Stephens lowered their target price 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, StockNews.com upgraded FB Financial from a sell rating to a hold rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $39.43.

FB Financial Stock Performance

Shares of FBK stock opened at $36.41 on Wednesday. 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 fifty-two week low of $24.34 and a fifty-two week high of $41.00. The business’s 50 day moving average price is $35.96 and its 200-day moving average price is $35.17.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $116.43 million for 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 earned $0.85 EPS. As a group, equities analysts predict that FB Financial will post 2.99 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed 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. This is a boost from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.87%. FB Financial’s payout ratio is presently 28.57%.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers acquired 3,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $395,736,670.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 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 purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,000 shares of company stock worth $256,830. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FBK. T. Rowe Price Investment Management Inc. raised its stake in shares of FB Financial by 7.2% in 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 purchasing an additional 348,790 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of FB Financial in the first quarter worth $13,000,000. Heartland Advisors Inc. bought a new stake in shares of FB Financial in the fourth quarter worth $11,237,000. Wasatch Advisors Inc. grew its holdings in shares of FB Financial by 17.7% in 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 during the period. Finally, Wasatch Advisors LP grew its holdings in shares of FB Financial by 26.3% in the fourth quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock worth $42,243,000 after acquiring an additional 220,835 shares during the period. Hedge funds and other institutional investors 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.