FB Financial (NYSE:FBK) Upgraded to Overweight by Piper Sandler

Piper Sandler upgraded shares of FB Financial (NYSE:FBK) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat reports. They currently have $41.00 target price on the financial services provider’s stock, up from their previous target price of $38.00.

Other equities analysts also recently issued research reports about the stock. Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research note on Wednesday, January 17th. Hovde Group upgraded shares of FB Financial from a market perform rating to an outperform rating and upped their price objective for the company from $40.00 to $40.50 in a research note on Tuesday. Finally, StockNews.com downgraded shares of FB Financial from a hold rating to a sell rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $39.43.

FB Financial Trading Up 2.4 %

Shares of FBK stock opened at $36.41 on Tuesday. The firm has a fifty day moving average price of $35.96 and a 200 day moving average price of $35.17. The company has a market cap of $1.71 billion, a P/E ratio of 15.30 and a beta of 1.15. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The firm had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities analysts forecast that FB Financial will post 2.99 EPS for the current year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.17 per share. This is an increase from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 12th. This represents a $0.68 annualized dividend and a dividend yield of 1.87%. FB Financial’s dividend payout ratio is 28.57%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was acquired at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the completion of the purchase, the insider now owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the acquisition, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were purchased at an average cost of $38.20 per share, with a total value of $76,400.00. Following the completion of the acquisition, the insider now directly owns 10,881,841 shares of the company’s stock, valued at $415,686,326.20. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 7,000 shares of company stock worth $256,830. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in FB Financial by 975.9% during the third quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 10,198 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new position in FB Financial in the third quarter valued at about $2,770,000. Illinois Municipal Retirement Fund purchased a new position in FB Financial in the third quarter valued at about $602,000. Earnest Partners LLC increased its holdings in FB Financial by 6.6% in the third quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock valued at $15,822,000 after buying an additional 34,601 shares in the last quarter. Finally, Wakefield Asset Management LLLP increased its holdings in FB Financial by 10.7% in the fourth quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 2,447 shares in the last quarter. 65.40% of the stock is 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.