FB Financial (NYSE:FBK) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of FB Financial (NYSE:FBK) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other brokerages also recently issued reports on FBK. Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and lifted their price objective for the stock from $38.00 to $41.00 in a research report on Tuesday. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and boosted their price target for the company from $40.00 to $40.50 in a report on Tuesday. Finally, Stephens cut their price target on FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, FB Financial has an average rating of Hold and an average target price of $37.67.

FB Financial Stock Performance

FBK opened at $36.19 on Tuesday. FB Financial has a one year low of $24.34 and a one year high of $41.00. The business’s 50-day simple moving average is $35.96 and its 200-day simple moving average is $35.11. The stock has a market capitalization of $1.70 billion, a P/E ratio of 14.08 and a beta of 1.15.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. During the same quarter in the previous year, the company earned $0.85 EPS. On average, equities research analysts forecast that FB Financial will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.88%. This is a boost from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s dividend payout ratio is 26.46%.

Insider Buying and Selling

In other news, major shareholder James W. Ayers acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, with a total value of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average cost of $36.35 per share, with a total value of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. In the last three months, insiders acquired 7,000 shares of company stock valued at $256,830. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of FB Financial by 975.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 10,198 shares in the last quarter. Richard Bernstein Advisors LLC acquired a new stake in shares of FB Financial in the 3rd quarter valued at about $2,770,000. Illinois Municipal Retirement Fund acquired a new stake in shares of FB Financial in the 3rd quarter valued at about $602,000. Earnest Partners LLC raised its stake in shares of FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock valued at $15,822,000 after purchasing an additional 34,601 shares in the last quarter. Finally, Wakefield Asset Management LLLP raised its stake in shares of FB Financial by 10.7% in the 4th quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock valued at $1,007,000 after purchasing an additional 2,447 shares in the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.