FB Financial (NYSE:FBK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

A number of other research analysts have also issued reports on FBK. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research report on Monday, November 18th. Keefe, Bruyette & Woods lifted their target price on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $50.20.

FB Financial Stock Performance

Shares of FBK opened at $53.13 on Wednesday. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The company has a market capitalization of $2.48 billion, a P/E ratio of 23.20 and a beta of 1.16. The business’s 50-day moving average is $53.70 and its two-hundred day moving average is $49.15.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. Analysts forecast that FB Financial will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Tuesday, November 5th. FB Financial’s dividend payout ratio is currently 29.69%.

Insider Activity at FB Financial

In related news, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers bought 500 shares of FB Financial stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the purchase, the insider now directly owns 10,906,841 shares of the company’s stock, valued at $556,248,891. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 15,500 shares of company stock valued at $794,850. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBK. Dimensional Fund Advisors LP grew its holdings in shares of FB Financial by 5.8% during the 2nd 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 during the period. Millennium Management LLC raised its stake in shares of FB Financial by 259.9% in the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after acquiring an additional 85,620 shares during the period. Wasatch Advisors LP lifted its holdings in shares of FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after acquiring an additional 55,071 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. purchased a new position in shares of FB Financial during the 3rd quarter worth approximately $1,935,000. Finally, Jane Street Group LLC increased its holdings in FB Financial by 120.6% in the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock valued at $3,355,000 after purchasing an additional 39,086 shares during the last quarter. 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.