FB Financial (NYSE:FBK) Upgraded at Hovde Group

Hovde Group upgraded shares of FB Financial (NYSE:FBK) from a market perform rating to an outperform rating in a report published on Tuesday morning, MarketBeat Ratings reports. Hovde Group currently has $59.00 target price on the financial services provider’s stock, down from their prior target price of $60.00.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Tuesday, March 11th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.40.

FB Financial Stock Performance

Shares of FB Financial stock opened at $41.87 on Tuesday. FB Financial has a one year low of $33.35 and a one year high of $58.88. The company has a market cap of $1.95 billion, a P/E ratio of 16.95 and a beta of 1.16. The firm has a fifty day moving average of $49.47 and a two-hundred day moving average of $50.75.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities analysts predict that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.82%. FB Financial’s dividend payout ratio is currently 30.77%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of $50.26 per share, with a total value of $100,520.00. Following the transaction, the insider now owns 10,915,841 shares in the company, valued at approximately $548,630,168.66. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 14,000 shares of company stock valued at $710,180 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FBK. Point72 Asset Management L.P. purchased a new stake in shares of FB Financial during the 3rd quarter valued at about $47,000. GAMMA Investing LLC grew its position in FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 314 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 997 shares during the period. KBC Group NV raised its stake in shares of FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 555 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of FB Financial during the third quarter worth $110,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.