FB Financial (NYSE:FBK) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of FB Financial (NYSE:FBK) from a hold rating to a sell rating in a research note published on Wednesday morning.

FBK has been the subject of several other reports. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Finally, Hovde Group increased their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $47.80.

FB Financial Price Performance

Shares of NYSE:FBK opened at $48.91 on Wednesday. The business’s 50 day simple moving average is $47.33 and its 200 day simple moving average is $42.57. FB Financial has a 1 year low of $29.55 and a 1 year high of $51.63. The company has a market capitalization of $2.30 billion, a P/E ratio of 21.36 and a beta of 1.12.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts anticipate that FB Financial will post 3.34 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was purchased at an average price of $48.17 per share, with a total value of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder James W. Ayers bought 500 shares of FB Financial stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the acquisition, the insider now directly owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were purchased at an average cost of $48.17 per share, with a total value of $96,340.00. Following the transaction, the insider now directly owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 10,000 shares of company stock valued at $489,910 over the last quarter. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On FB Financial

A number of institutional investors have recently modified their holdings of FBK. Vanguard Group Inc. boosted its position in shares of FB Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock valued at $92,805,000 after purchasing an additional 9,694 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after buying an additional 106,553 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of FB Financial by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock worth $42,812,000 after buying an additional 33,310 shares during the period. Heartland Advisors Inc. increased its stake in shares of FB Financial by 22.0% in the 1st quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock valued at $11,999,000 after acquiring an additional 57,355 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after acquiring an additional 15,739 shares during the period. 65.40% of the stock is owned by institutional investors.

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.