FB Financial (NYSE:FBK) Lifted 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.

Other equities research analysts have also issued research reports about the stock. Stephens cut their price target on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a report on Wednesday, January 17th. Piper Sandler raised shares of FB Financial from a neutral rating to an overweight rating and lifted their target price for the stock from $38.00 to $41.00 in a research note on Tuesday. Finally, Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and lifted their target price for the stock from $40.00 to $40.50 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $39.43.

FB Financial Price Performance

NYSE:FBK opened at $35.56 on Tuesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.94 and a beta of 1.15. The company has a 50 day moving average price of $35.96 and a 200-day moving average price of $35.12. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million during the quarter, compared to analyst estimates of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts anticipate that FB Financial will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a dividend of $0.17 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 12th. This represents a $0.68 annualized dividend and a dividend yield of 1.91%. FB Financial’s payout ratio is presently 28.57%.

Insider Activity

In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were purchased at an average price of $38.20 per share, with a total value of $76,400.00. Following the transaction, the insider now owns 10,881,841 shares in the company, valued at approximately $415,686,326.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers bought 3,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was bought at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the transaction, the insider now directly owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 7,000 shares of company stock valued at $256,830. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its position in FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after buying an additional 139,395 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in FB Financial by 1.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock valued at $8,057,000 after buying an additional 3,630 shares during the last quarter. Vanguard Group Inc. lifted its position in FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares during the last quarter. Mendon Capital Advisors Corp purchased a new stake in FB Financial during the fourth quarter worth about $5,978,000. Finally, Price T Rowe Associates Inc. MD increased its stake in FB Financial by 10.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,722 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 809 shares during the period. Institutional investors and hedge funds 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.