Hovde Group Downgrades FB Financial (NYSE:FBK) to Market Perform

Hovde Group lowered shares of FB Financial (NYSE:FBK) from an outperform rating to a market perform rating in a research note released on Monday morning, MarketBeat Ratings reports. Hovde Group currently has $60.00 price target on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, FB Financial has an average rating of “Hold” and an average target price of $48.60.

FB Financial Stock Up 1.9 %

FBK opened at $55.35 on Monday. The company’s 50-day moving average price is $49.58 and its 200 day moving average price is $44.22. FB Financial has a fifty-two week low of $32.09 and a fifty-two week high of $58.88. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 24.17 and a beta of 1.12.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter last year, the business posted $0.71 EPS. Research analysts anticipate that FB Financial will post 3.38 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.23%. FB Financial’s payout ratio is 29.69%.

Insider Buying and Selling at FB Financial

In other news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction 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 directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder James W. Ayers bought 1,500 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the transaction, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This trade represents a 0.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 13,000 shares of company stock valued at $658,460. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of FB Financial during the third quarter valued at approximately $47,000. nVerses Capital LLC acquired a new stake in FB Financial during the 3rd quarter valued at $84,000. Point72 DIFC Ltd purchased a new stake in shares of FB Financial in the third quarter valued at $110,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FB Financial in the third quarter valued at $124,000. Finally, SG Americas Securities LLC purchased a new position in shares of FB Financial during the first quarter valued at $165,000. 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.