FB Financial (NYSE:FBK) Sees Unusually-High Trading Volume

Shares of FB Financial Co. (NYSE:FBK) saw unusually-high trading volume on Tuesday . Approximately 221,010 shares were traded during trading, an increase of 72% from the previous session’s volume of 128,217 shares.The stock last traded at $35.65 and had previously closed at $34.63.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $41.00 in a research report on Tuesday. Stephens decreased their target price on FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price on FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $38.00 price target on shares of FB Financial in a research report on Wednesday. Finally, Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $40.50 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $39.43.

FB Financial Trading Down 1.4 %

The company has a market capitalization of $1.67 billion, a PE ratio of 14.97 and a beta of 1.15. The firm has a fifty day moving average of $35.96 and a two-hundred day moving average of $35.11.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The business had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter last year, the business posted $0.85 EPS. On average, equities analysts expect that FB Financial Co. will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.68 annualized dividend and a yield of 1.91%. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is 28.57%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the purchase, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were acquired at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the purchase, the insider now owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 7,000 shares of company stock worth $256,830. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently bought and sold shares of FBK. Tower Research Capital LLC TRC increased its holdings in shares of FB Financial by 570.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after buying an additional 833 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of FB Financial during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC acquired a new stake in shares of FB Financial during the 4th quarter worth approximately $43,000. Point72 Hong Kong Ltd increased its holdings in shares of FB Financial by 413.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,301 shares during the last quarter. Finally, Point72 Middle East FZE increased its holdings in shares of FB Financial by 111.6% during the 2nd quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after buying an additional 876 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

About FB Financial

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.