FB Financial (NYSE:FBK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a report released on Tuesday.

A number of other brokerages have also recently weighed in on FBK. Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and raised their price target for the company from $38.00 to $41.00 in a research report on Tuesday. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and raised their price target for the company from $40.00 to $40.50 in a research report on Tuesday. Finally, Stephens dropped their price target on FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, January 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, FB Financial has an average rating of Hold and an average price target of $39.43.

FB Financial Stock Performance

NYSE:FBK opened at $35.56 on Tuesday. The stock has a fifty day moving average price of $35.96 and a two-hundred day moving average price of $35.12. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 14.94 and a beta of 1.15. FB Financial has a 1 year low of $24.34 and a 1 year high of $41.00.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The firm had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, analysts predict that FB Financial will post 2.84 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling

In related news, major shareholder James W. Ayers acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were purchased at an average cost of $38.20 per share, with a total value of $76,400.00. Following the purchase, the insider now owns 10,881,841 shares in the company, valued at $415,686,326.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James W. Ayers purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 7,000 shares of company stock worth $256,830. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of FB Financial

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in FB Financial by 975.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock worth $319,000 after buying an additional 10,198 shares during the last quarter. Richard Bernstein Advisors LLC acquired a new stake in FB Financial in the 3rd quarter worth about $2,770,000. Illinois Municipal Retirement Fund acquired a new stake in FB Financial in the 3rd quarter worth about $602,000. Earnest Partners LLC boosted its stake in FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock worth $15,822,000 after buying an additional 34,601 shares during the last quarter. Finally, Wakefield Asset Management LLLP boosted its stake in FB Financial by 10.7% in the 4th quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock worth $1,007,000 after buying an additional 2,447 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Company Profile

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.