FB Financial (NYSE:FBK) Raised to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of FB Financial (NYSE:FBK) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The firm currently has $41.00 target price on the financial services provider’s stock, up from their previous target price of $38.00.

Several other research analysts have also recently commented on the stock. Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a report on Wednesday, January 17th. StockNews.com cut shares of FB Financial from a hold rating to a sell rating in a research note on Thursday, March 21st. Finally, Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and boosted their target price for the stock from $40.00 to $40.50 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $39.43.

FB Financial Price Performance

Shares of NYSE FBK opened at $35.56 on Tuesday. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 14.94 and a beta of 1.15. The business has a 50-day moving average of $35.96 and a 200-day moving average of $35.12. FB Financial has a fifty-two week low of $24.34 and a fifty-two week high of $41.00.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The business 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 period last year, the business posted $0.85 EPS. On average, sell-side analysts expect that FB Financial will post 2.84 EPS for the current year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Monday, February 12th. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s payout ratio is 28.57%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were bought at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the completion of the acquisition, the insider now owns 10,881,841 shares in the company, valued at $415,686,326.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were bought at an average price of $38.20 per share, for a total transaction of $76,400.00. Following the completion of the acquisition, the insider now owns 10,881,841 shares in the company, valued at $415,686,326.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 7,000 shares of company stock worth $256,830. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in FB Financial by 1.3% in the second quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock valued at $176,641,000 after buying an additional 78,805 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in FB Financial by 7.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock valued at $186,833,000 after buying an additional 348,790 shares during the period. Vanguard Group Inc. lifted its holdings in FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FB Financial by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock valued at $70,099,000 after buying an additional 40,394 shares during the period. Finally, Wasatch Advisors Inc. lifted its holdings in FB Financial by 17.7% in the first quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock valued at $70,169,000 after buying an additional 237,256 shares during the period. Institutional investors and hedge funds 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.