FB Financial (NYSE:FBK) Downgraded to “Neutral” at Piper Sandler

Piper Sandler cut shares of FB Financial (NYSE:FBK) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have $46.00 target price on the financial services provider’s stock, up from their previous target price of $41.00.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of FB Financial from $43.00 to $42.00 and set an underweight rating for the company in a report on Thursday, June 27th. Stephens reiterated an overweight rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. Hovde Group upgraded shares of FB Financial from a market perform rating to an outperform rating and lifted their price target for the stock from $40.00 to $40.50 in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods lifted their price target on shares of FB Financial from $38.00 to $40.00 and gave the stock a market perform rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of FB Financial from a sell rating to a hold rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $42.33.

FB Financial Stock Performance

Shares of FBK stock opened at $45.40 on Wednesday. The stock has a market capitalization of $2.13 billion, a P/E ratio of 19.08 and a beta of 1.14. The company has a 50 day moving average price of $38.36 and a 200 day moving average price of $37.37. FB Financial has a fifty-two week low of $27.42 and a fifty-two week high of $46.76.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.68 annualized dividend and a yield of 1.50%. FB Financial’s dividend payout ratio (DPR) is 28.57%.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in FB Financial in the 4th quarter valued at $43,000. Quadrant Capital Group LLC raised its position in FB Financial by 85.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,679 shares during the last quarter. SG Americas Securities LLC purchased a new stake in FB Financial in the 1st quarter valued at $165,000. B. Riley Wealth Advisors Inc. purchased a new stake in FB Financial in the 3rd quarter valued at $208,000. Finally, Foundry Partners LLC purchased a new stake in FB Financial in the 4th quarter valued at $217,000. 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.