FB Financial (NYSE:FBK) Price Target Increased to $43.00 by Analysts at JPMorgan Chase & Co.

FB Financial (NYSE:FBKFree Report) had its price target hoisted by JPMorgan Chase & Co. from $41.00 to $43.00 in a report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

Several other research firms have also recently commented on FBK. StockNews.com raised shares of FB Financial from a sell rating to a hold rating in a research note on Tuesday, April 16th. Piper Sandler raised shares of FB Financial from a neutral rating to an overweight rating and increased their price target for the company from $38.00 to $41.00 in a research note on Tuesday, April 16th. Stephens decreased their price target on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research note on Wednesday, January 17th. Keefe, Bruyette & Woods reissued a market perform rating and set a $38.00 price target on shares of FB Financial in a research note on Wednesday. Finally, Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and increased their price target for the company from $40.00 to $40.50 in a research note on Tuesday, April 16th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $39.43.

Check Out Our Latest Research Report on FB Financial

FB Financial Trading Up 2.4 %

NYSE FBK opened at $36.41 on Wednesday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 15.30 and a beta of 1.15. The company has a 50 day moving average of $35.96 and a 200-day moving average of $35.23. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

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 paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, February 12th. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.87%. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling at FB Financial

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

Hedge Funds Weigh In On FB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in shares of FB Financial by 570.5% during the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 833 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of FB Financial during the third quarter worth $31,000. GAMMA Investing LLC acquired a new stake in shares of FB Financial during the fourth quarter worth $43,000. Point72 Middle East FZE raised its holdings in shares of FB Financial by 111.6% during the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 876 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of FB Financial during the third quarter worth $71,000. 65.40% of the stock is owned by institutional investors.

About FB Financial

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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.

Further Reading

Analyst Recommendations for FB Financial (NYSE:FBK)

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