FB Financial (NYSE:FBK) Price Target Raised to $58.00

FB Financial (NYSE:FBK) had its price target boosted by Keefe, Bruyette & Woods from $50.00 to $58.00 in a research report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.20.

FB Financial Trading Down 0.3 %

FBK stock opened at $56.51 on Wednesday. The firm has a 50 day moving average of $51.65 and a 200-day moving average of $45.58. FB Financial has a 12 month low of $33.35 and a 12 month high of $58.88. The firm has a market capitalization of $2.64 billion, a P/E ratio of 24.68 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The company had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same period last year, the business earned $0.71 earnings per share. Sell-side analysts predict that FB Financial will post 3.38 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. FB Financial’s payout ratio is 29.69%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the acquisition, the insider now owns 10,906,841 shares in the company, valued at $556,248,891. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction 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. The trade was a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 13,000 shares of company stock worth $658,460. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in 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 valued at $75,623,000 after buying an additional 106,553 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after buying an additional 15,739 shares during the last quarter. Salzhauer Michael bought a new stake in FB Financial during the 2nd quarter valued at $2,596,000. Raymond James & Associates raised its holdings in FB Financial by 5.0% during the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after buying an additional 6,183 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. bought a new stake in FB Financial during the 3rd quarter valued at $1,935,000. 65.40% of the stock is currently owned by institutional investors.

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.