FB Financial (NYSE:FBK) Price Target Raised to $50.00 at Keefe, Bruyette & Woods

FB Financial (NYSE:FBK) had its price target upped by Keefe, Bruyette & Woods from $48.00 to $50.00 in a research note released on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the company. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. dropped their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.17.

FB Financial Stock Performance

FB Financial stock opened at $50.63 on Wednesday. The stock has a 50-day moving average of $46.18 and a two-hundred day moving average of $41.45. FB Financial has a one year low of $27.61 and a one year high of $51.40. The stock has a market cap of $2.38 billion, a PE ratio of 21.27 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. During the same period in the prior year, the company earned $0.71 earnings per share. As a group, sell-side analysts predict that FB Financial will post 3.25 EPS for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.34%. FB Financial’s dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently bought and sold shares of FBK. Wasatch Advisors LP boosted its position in FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in FB Financial by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares in the last quarter. Millennium Management LLC boosted its position in FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after purchasing an additional 85,620 shares in the last quarter. Salzhauer Michael purchased a new position in FB Financial during the second quarter worth approximately $2,596,000. Finally, Heartland Advisors Inc. boosted its position in FB Financial by 22.0% during the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after purchasing an additional 57,355 shares in the last quarter. Hedge funds and other institutional investors 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.