FB Financial (NYSE:FBK) Price Target Cut to $58.00 by Analysts at Stephens

FB Financial (NYSE:FBK) had its price target decreased by Stephens from $65.00 to $58.00 in a report released on Wednesday,Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts 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 target for the stock from $60.00 to $59.00 in a report on Tuesday. Keefe, Bruyette & Woods increased their price objective on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research note on Tuesday, March 11th. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.40.

FB Financial Stock Up 1.5 %

NYSE FBK opened at $46.83 on Wednesday. The company has a 50 day moving average price of $49.68 and a 200 day moving average price of $50.82. FB Financial has a 52 week low of $33.35 and a 52 week high of $58.88. The firm has a market cap of $2.19 billion, a PE ratio of 18.96 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a $0.19 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.17. 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. FB Financial’s payout ratio is currently 30.77%.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $50.26 per share, for a total transaction of $100,520.00. Following the completion of the transaction, the insider now directly owns 10,915,841 shares of the company’s stock, valued at $548,630,168.66. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders bought 14,000 shares of company stock valued at $710,180. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Several large investors have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of FB Financial in the third quarter valued at approximately $330,000. Charles Schwab Investment Management Inc. raised its position in shares of FB Financial by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock valued at $17,521,000 after buying an additional 14,797 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in FB Financial by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock valued at $905,000 after acquiring an additional 1,317 shares during the last quarter. FMR LLC grew its position in FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 2,109 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in FB Financial by 27.2% during the third quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 2,090 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other 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.