Zacks Investment Research cut shares of FB Financial (NYSE:FBK) from a buy rating to a hold rating in a report released on Thursday.
According to Zacks, “FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. “
Other analysts have also recently issued research reports about the stock. ValuEngine raised shares of FB Financial from a hold rating to a buy rating in a research note on Monday, February 5th. UBS started coverage on shares of FB Financial in a research note on Thursday, March 22nd. They issued a neutral rating and a $44.00 price target for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. FB Financial presently has an average rating of Hold and an average target price of $42.17.
FBK stock traded up $0.13 during mid-day trading on Thursday, reaching $43.21. The company’s stock had a trading volume of 549 shares, compared to its average volume of 90,384. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 18.03 and a beta of 1.34. The company has a current ratio of 0.94, a quick ratio of 0.82 and a debt-to-equity ratio of 0.23. FB Financial has a fifty-two week low of $41.80 and a fifty-two week high of $42.04.
FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.03. FB Financial had a net margin of 18.61% and a return on equity of 12.36%. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $81.30 million. equities analysts forecast that FB Financial will post 2.99 earnings per share for the current year.
The business also recently declared a special dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, April 27th. FB Financial’s dividend payout ratio is currently 2.80%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of FB Financial by 132.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 51,006 shares of the financial services provider’s stock valued at $1,924,000 after acquiring an additional 29,040 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of FB Financial by 77.4% in the third quarter. California State Teachers Retirement System now owns 20,756 shares of the financial services provider’s stock valued at $783,000 after acquiring an additional 9,056 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of FB Financial in the third quarter valued at about $354,000. Delta Asset Management LLC TN boosted its holdings in shares of FB Financial by 1,000.0% in the fourth quarter. Delta Asset Management LLC TN now owns 3,300 shares of the financial services provider’s stock valued at $139,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of FB Financial in the fourth quarter valued at about $4,150,000. Institutional investors own 36.37% of the company’s stock.
FB Financial Company Profile
FB Financial Corporation operates as a holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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