FB Financial (NYSE:FBK) Raised to “Overweight” at Piper Sandler

by · The Markets Daily

Piper Sandler upgraded shares of FB Financial (NYSE:FBK – Free Report) from a neutral rating to an overweight rating in a report issued on Tuesday morning, MarketBeat.com reports. Piper Sandler currently has $58.00 target price on the financial services provider’s stock.

A number of other analysts have also recently commented on FBK. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and an average target price of $52.60.

Check Out Our Latest Analysis on FBK

FB Financial Price Performance

Shares of FBK stock opened at $45.29 on Tuesday. The stock has a market cap of $2.11 billion, a P/E ratio of 18.34 and a beta of 1.16. The company has a fifty day moving average price of $50.85 and a two-hundred day moving average price of $50.74. FB Financial has a one year low of $33.35 and a one year high of $58.88.

FB Financial (NYSE:FBK – Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, equities research analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.19 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.68%. FB Financial’s dividend payout ratio is presently 30.77%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were acquired at an average cost of $51.40 per share, with a total value of $102,800.00. Following the completion of the transaction, the insider now owns 10,913,841 shares in the company, valued at $560,971,427.40. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 16,000 shares of company stock valued at $813,900 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP increased its position in FB Financial by 4.7% during the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after acquiring an additional 55,071 shares during the period. Geode Capital Management LLC increased its position in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after acquiring an additional 7,021 shares during the period. Northern Trust Corp increased its position in FB Financial by 15.3% during the fourth quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock worth $21,886,000 after acquiring an additional 56,474 shares during the period. Bridgeway Capital Management LLC increased its position in FB Financial by 1.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 394,155 shares of the financial services provider’s stock worth $20,303,000 after acquiring an additional 7,037 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in FB Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock worth $19,383,000 after acquiring an additional 2,943 shares during the period. 65.40% of the stock is owned by institutional investors.

About FB Financial

(Get Free Report)

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.

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