FB Financial (NYSE:FBK) Price Target Raised to $60.00

FB Financial (NYSE:FBK) had its price objective lifted by Piper Sandler from $58.00 to $60.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

FBK has been the topic of several other reports. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $60.00 to $59.00 in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on 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 upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Stephens dropped their price objective on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.40.

FB Financial Price Performance

NYSE FBK opened at $46.83 on Wednesday. The company’s fifty day moving average is $49.68 and its two-hundred day moving average is $50.82. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 18.96 and a beta of 1.16. FB Financial has a 52-week low of $33.35 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 EPS 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%. As a group, sell-side analysts expect that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is presently 30.77%.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the transaction, the insider now owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. The trade was a 0.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 14,000 shares of company stock valued at $710,180 over the last ninety days. 1.70% of the stock is owned by insiders.

Institutional Trading of FB Financial

Hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in FB Financial in the 3rd quarter worth approximately $330,000. Charles Schwab Investment Management Inc. increased its stake in shares of FB Financial by 4.1% in 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 raised its position in shares of FB Financial by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock worth $905,000 after acquiring an additional 1,317 shares during the last quarter. FMR LLC boosted its holdings in FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 2,109 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in FB Financial by 27.2% in the third quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 2,090 shares during the last quarter. 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.