Stephens Lowers FB Financial (NYSE:FBK) Price Target to $58.00

FB Financial (NYSE:FBK) had its price target cut by Stephens from $65.00 to $58.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on FBK. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $60.00 to $59.00 in a research report on Tuesday. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.40.

FB Financial Trading Up 1.5 %

Shares of NYSE FBK opened at $46.83 on Wednesday. The stock has a fifty day simple moving average of $49.68 and a 200-day simple moving average of $50.82. FB Financial has a twelve month low of $33.35 and a twelve month high of $58.88. The stock has a market capitalization of $2.19 billion, a PE ratio of 18.96 and a beta of 1.16.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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%. On average, equities analysts predict that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is 30.77%.

Insider Transactions at FB Financial

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 Tuesday, March 4th. The shares were purchased at an average cost of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the purchase, the insider now directly owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders bought 14,000 shares of company stock worth $710,180. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently made changes to their positions in FBK. Point72 Asset Management L.P. acquired a new position in FB Financial during the third quarter worth $47,000. GAMMA Investing LLC raised its stake in FB Financial by 45.2% during the fourth 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 grew its stake in shares of FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock valued at $58,000 after buying an additional 997 shares during the period. KBC Group NV increased its holdings in shares of FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after buying an additional 555 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of FB Financial in the 3rd quarter worth $110,000. 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.