FB Financial (NYSE:FBK) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of FB Financial (NYSE:FBK) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of FB Financial in a report on Wednesday, October 14th. Benchmark upped their target price on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Keefe, Bruyette & Woods decreased their target price on FB Financial from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Finally, Truist Financial set a $64.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $64.43.

FB Financial Trading Down 0.1%

FB Financial stock opened at $54.23 on Friday. The firm has a 50-day moving average of $53.67 and a 200-day moving average of $55.31. The firm has a market cap of $2.66 billion, a P/E ratio of 12.05 and a beta of 0.97. FB Financial has a 1-year low of $49.24 and a 1-year high of $62.65.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The company had revenue of $175.62 million for the quarter, compared to the consensus estimate of $181.56 million. Research analysts forecast that FB Financial will post 4.65 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, November 10th. This represents a $0.84 annualized dividend and a yield of 1.5%. FB Financial’s dividend payout ratio is currently 18.67%.

Insider Activity

In other news, Director Orrin Ingram, II bought 29,081 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were acquired at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the transaction, the director owned 124,391 shares of the company’s stock, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBK. Corient Private Wealth LP bought a new stake in FB Financial during the second quarter valued at about $1,202,000. Penn Capital Management Company LLC lifted its position in shares of FB Financial by 21.2% in the second quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock valued at $21,456,000 after acquiring an additional 67,656 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of FB Financial in the second quarter valued at about $21,338,000. Dimensional Fund Advisors LP boosted its stake in shares of FB Financial by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after acquiring an additional 28,023 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of FB Financial in the second quarter worth about $39,460,000. Institutional investors own 65.40% of the company’s stock.

About FB Financial

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.