FB Financial (NYSE:FBK) Price Target Raised to $60.00 at Piper Sandler

FB Financial (NYSE:FBK) had its target price hoisted by Piper Sandler from $58.00 to $60.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on the company. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $60.00 to $59.00 in a research report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens cut their target price on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $55.40.

FB Financial Price Performance

FB Financial stock opened at $46.83 on Wednesday. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The firm’s 50 day simple moving average is $49.68 and its 200-day simple moving average is $50.82. The company has a market cap of $2.19 billion, a P/E ratio of 18.96 and a beta of 1.16.

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

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.62%. FB Financial’s payout ratio is 30.77%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the transaction, the insider now directly owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. This represents a 0.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 14,000 shares of company stock valued at $710,180 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of FB Financial

Several large investors have recently made changes to their positions in the stock. Intech Investment Management LLC acquired a new stake in FB Financial in the 3rd quarter worth approximately $330,000. Charles Schwab Investment Management Inc. lifted its stake in shares of FB Financial by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after buying an additional 14,797 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of FB Financial by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock worth $905,000 after buying an additional 1,317 shares during the period. FMR LLC boosted its holdings in shares of FB Financial by 42.0% during the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock worth $335,000 after buying an additional 2,109 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in FB Financial by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 2,090 shares during the period. Institutional investors 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.