FB Financial (NYSE:FBK) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a research note released on Saturday.

Several other research firms have also weighed in on FBK. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 target price (up previously from $61.00) on shares of FB Financial in a research note on Thursday. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler upped their target price on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.80.

FB Financial Price Performance

Shares of NYSE FBK opened at $52.15 on Friday. FB Financial has a fifty-two week low of $38.83 and a fifty-two week high of $60.51. The firm has a market capitalization of $2.81 billion, a P/E ratio of 24.37 and a beta of 0.91. The company’s 50 day simple moving average is $53.94 and its 200 day simple moving average is $47.93.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The company had revenue of $163.71 million during the quarter. Sell-side analysts expect that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 12th. FB Financial’s dividend payout ratio (DPR) is presently 35.51%.

Hedge Funds Weigh In On FB Financial

Large investors have recently added to or reduced their stakes in the company. Deprince Race & Zollo Inc. bought a new stake in shares of FB Financial in the third quarter valued at about $48,674,000. Nuveen LLC acquired a new stake in FB Financial in the 1st quarter valued at approximately $39,275,000. Qube Research & Technologies Ltd lifted its stake in FB Financial by 61.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock valued at $14,295,000 after acquiring an additional 120,561 shares in the last quarter. Invesco Ltd. boosted its position in FB Financial by 93.9% during the 1st quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider’s stock worth $9,463,000 after acquiring an additional 98,843 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in FB Financial by 130.8% during the 2nd quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider’s stock worth $6,382,000 after acquiring an additional 79,841 shares during the last quarter. 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.