FB Financial (NYSE:FBK) Price Target Raised to $43.00

FB Financial (NYSE:FBK) had its price target increased by JPMorgan Chase & Co. from $41.00 to $43.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an underweight rating on the financial services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Piper Sandler upgraded shares of FB Financial from a neutral rating to an overweight rating and increased their price objective for the company from $38.00 to $41.00 in a research note on Tuesday. Stephens dropped their target price on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $38.00 target price on shares of FB Financial in a research report on Wednesday. Hovde Group upgraded shares of FB Financial from a market perform rating to an outperform rating and increased their target price for the stock from $40.00 to $40.50 in a research report on Tuesday. Finally, StockNews.com upgraded shares of FB Financial from a sell rating to a hold rating in a research report on Tuesday. One equities 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 company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $39.43.

FB Financial Stock Performance

Shares of FBK stock opened at $36.41 on Wednesday. FB Financial has a 52-week low of $24.34 and a 52-week high of $41.00. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 15.30 and a beta of 1.15. The firm has a fifty day moving average of $35.96 and a 200-day moving average of $35.17.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The company had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter in the prior year, the company posted $0.85 EPS. On average, sell-side analysts predict that FB Financial will post 2.99 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.87%. The ex-dividend date was Monday, February 12th. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction dated 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 purchase, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction dated 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 purchase, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Wednesday, February 21st. The stock was acquired at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the purchase, the insider now directly owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 7,000 shares of company stock valued at $256,830. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Citadel Advisors LLC boosted its stake in FB Financial by 0.7% during the 2nd quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock worth $1,378,000 after acquiring an additional 249 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in FB Financial by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock worth $1,005,000 after acquiring an additional 278 shares during the last quarter. American International Group Inc. boosted its stake in FB Financial by 1.6% during the 2nd quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 314 shares during the last quarter. Mariner LLC boosted its stake in FB Financial by 1.6% during the 3rd quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after acquiring an additional 323 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in FB Financial by 15.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 392 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.