Brokerages Set FB Financial Co. (NYSE:FBK) Target Price at $52.60

FB Financial Co. (NYSE:FBK) has been assigned a consensus rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $52.60.

Several research analysts have recently issued reports on the company. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research note on Monday, November 18th. Keefe, Bruyette & Woods lifted their price objective on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Tuesday, March 11th. Finally, StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the acquisition, the insider now directly owns 10,931,841 shares in the company, valued at $530,303,606.91. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased a total of 16,000 shares of company stock worth $813,900 in the last 90 days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FBK. Entropy Technologies LP purchased a new position in FB Financial in the 3rd quarter worth approximately $202,000. Empowered Funds LLC boosted its stake in shares of FB Financial by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 138,718 shares of the financial services provider’s stock valued at $6,510,000 after buying an additional 6,968 shares during the last quarter. Quest Partners LLC boosted its stake in shares of FB Financial by 18.0% during the 3rd quarter. Quest Partners LLC now owns 13,610 shares of the financial services provider’s stock valued at $639,000 after buying an additional 2,072 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FB Financial during the 3rd quarter valued at approximately $1,557,000. Finally, Intech Investment Management LLC bought a new position in FB Financial during the third quarter worth $330,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

FB Financial stock opened at $46.59 on Wednesday. FB Financial has a one year low of $33.35 and a one year high of $58.88. The business has a fifty day moving average of $50.76 and a two-hundred day moving average of $50.78. The company has a market cap of $2.17 billion, a P/E ratio of 18.86 and a beta of 1.16.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. Sell-side analysts predict that FB Financial will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, February 11th. This is an increase from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is 30.77%.

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.