FB Financial (NYSE:FBK) Stock Price Up 6.3%

FB Financial Co. (NYSE:FBK) rose 6.3% on Tuesday . The company traded as high as $45.49 and last traded at $45.49. Approximately 44,207 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 135,573 shares. The stock had previously closed at $42.81.

Analysts Set New Price Targets

FBK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on FB Financial from $38.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. 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, April 16th. Stephens reissued an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research note on Thursday, June 27th. Finally, StockNews.com raised 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, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.14.

FB Financial Trading Up 6.6 %

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 19.28 and a beta of 1.14. The stock has a 50-day moving average price of $37.80 and a two-hundred day moving average price of $37.19.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.15. The firm had revenue of $107.45 million during the quarter, compared to analysts’ expectations of $119.84 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. Research analysts predict that FB Financial Co. will post 3.13 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. FB Financial’s dividend payout ratio is currently 28.57%.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heartland Advisors Inc. acquired a new position in shares of FB Financial during the 4th quarter worth approximately $11,237,000. Wasatch Advisors LP increased its position in shares of FB Financial by 26.3% during 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. Mendon Capital Advisors Corp purchased a new stake in shares of FB Financial during the fourth quarter worth $5,978,000. Vanguard Group Inc. increased its position 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 during the period. Finally, Dimensional Fund Advisors LP increased its position 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 during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.