FB Financial (NYSE:FBK) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of FB Financial (NYSE:FBK) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also commented on FBK. Truist Financial set a $64.00 price objective on FB Financial in a research note on Wednesday, October 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of FB Financial in a research note on Wednesday, October 14th. Benchmark boosted their target price on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of FB Financial from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $64.43.

FB Financial Price Performance

Shares of NYSE:FBK opened at $55.17 on Friday. The stock has a market capitalization of $2.70 billion, a P/E ratio of 12.03 and a beta of 0.97. The business has a 50-day moving average of $53.61 and a two-hundred day moving average of $55.28. FB Financial has a fifty-two week low of $49.24 and a fifty-two week high of $62.65.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The business had revenue of $175.62 million for the quarter, compared to analyst estimates of $181.56 million. As a group, research analysts expect that FB Financial will post 4.65 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, November 10th. FB Financial’s payout ratio is 18.67%.

Insider Buying and Selling at FB Financial

In related news, Director Orrin Ingram, II bought 29,081 shares of the company’s stock in a transaction dated Tuesday, October 20th. The stock was acquired at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the acquisition, the director owned 124,391 shares in the company, valued at approximately $6,577,796.08. This represents a 30.51% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBK. Nykredit A S bought a new position in FB Financial in the 2nd quarter valued at $37,000. Global Retirement Partners LLC acquired a new position in FB Financial during the 2nd quarter valued at about $40,000. Hantz Financial Services Inc. lifted its position in FB Financial by 25.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 181 shares during the period. State of Wyoming bought a new position in shares of FB Financial in the 1st quarter valued at about $63,000. Finally, Quantbot Technologies LP bought a new position in shares of FB Financial in the 2nd quarter valued at about $87,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. It operates primarily through FirstBank, which provides banking services to individuals, businesses and organizations.

Its offerings include deposit accounts, consumer and commercial loans, mortgage banking, treasury management and wealth management services. FirstBank traces its roots to 1906 and serves customers across Tennessee and other parts of the southeastern United States.