FB Financial (NYSE:FBK) Upgraded by StockNews.com to “Hold” Rating

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

A number of other research analysts have also commented on the stock. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price objective on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Stephens lowered their price objective on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Piper Sandler lowered their price objective on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.80.

FB Financial Trading Up 0.0%

Shares of NYSE:FBK opened at $46.34 on Tuesday. The firm’s 50 day moving average is $44.04 and its two-hundred day moving average is $49.74. FB Financial has a 52 week low of $34.50 and a 52 week high of $58.88. The firm has a market capitalization of $2.13 billion, a P/E ratio of 18.76 and a beta of 0.93.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The company had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter last year, the business earned $0.85 earnings per share. Analysts predict that FB Financial will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.19 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.64%. FB Financial’s dividend payout ratio (DPR) is 27.94%.

Insiders Place Their Bets

In other FB Financial news, Director James W. Iv Cross purchased 7,200 shares of the firm’s stock in a transaction on Wednesday, April 16th. The shares were purchased at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the transaction, the insider now owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. The trade was a 0.02% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FBK. Meeder Asset Management Inc. acquired a new position in FB Financial in the 1st quarter worth approximately $33,000. GAMMA Investing LLC boosted its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 314 shares during the period. Sterling Capital Management LLC boosted its stake in FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 997 shares during the period. CWM LLC boosted its stake in FB Financial by 58.2% in the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 611 shares during the period. Finally, KBC Group NV boosted its stake in FB Financial by 36.2% in the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 555 shares during the period. 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.