Analysts Set FB Financial Co. (NYSE:FBK) PT at $39.43

FB Financial Co. (NYSE:FBK) has received a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $39.43.

Several analysts recently issued reports on FBK shares. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $40.50 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upped their price objective on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $38.00 to $41.00 in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 price objective on shares of FB Financial in a report on Wednesday, April 17th.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers purchased 3,000 shares of the stock in a transaction dated 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 acquisition, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder James W. Ayers purchased 3,000 shares of the stock in a transaction dated 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 acquisition, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $36.35 per share, with a total value of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FB Financial

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new stake in FB Financial in the fourth quarter valued at approximately $43,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in FB Financial in the third quarter valued at approximately $71,000. PNC Financial Services Group Inc. grew its holdings in FB Financial by 17.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 449 shares during the period. Quadrant Capital Group LLC grew its holdings in FB Financial by 85.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,679 shares during the period. Finally, Quantbot Technologies LP grew its holdings in FB Financial by 30.8% in the third quarter. Quantbot Technologies LP now owns 7,250 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 1,706 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Trading Up 2.7 %

Shares of NYSE FBK opened at $38.66 on Friday. FB Financial has a 12-month low of $24.34 and a 12-month high of $41.00. The stock has a market cap of $1.81 billion, a PE ratio of 16.24 and a beta of 1.15. The company has a 50-day moving average of $36.04 and a 200 day moving average of $35.40.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.17 per share. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s payout ratio is presently 28.57%.

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.