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

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

A number of other analysts have also issued reports on FBK. Stephens reduced their target price on FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a report on Wednesday, January 17th. Keefe, Bruyette & Woods restated a market perform rating and issued a $38.00 target price on shares of FB Financial in a report on Wednesday. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and increased their price objective for the stock from $40.00 to $40.50 in a report on Tuesday. Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and increased their price objective for the stock from $38.00 to $41.00 in a report on Tuesday. Finally, StockNews.com upgraded FB Financial from a sell rating to a hold rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $39.43.

FB Financial Stock Performance

Shares of NYSE FBK opened at $35.64 on Wednesday. The stock has a fifty day moving average price of $35.96 and a two-hundred day moving average price of $35.11. The firm has a market cap of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15. FB Financial has a 1 year low of $24.34 and a 1 year high of $41.00.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. The company had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, research analysts predict that FB Financial will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

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

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were bought at an average cost of $38.20 per share, with a total value of $76,400.00. Following the completion of the transaction, the insider now owns 10,881,841 shares in the company, valued at approximately $415,686,326.20. The transaction 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 3,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were bought at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The transaction 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 bought 2,000 shares of FB Financial stock in a transaction that occurred on Monday, January 22nd. The stock was bought at an average price of $38.20 per share, with a total value of $76,400.00. Following the purchase, the insider now owns 10,881,841 shares of the company’s stock, valued at approximately $415,686,326.20. The disclosure for this purchase can be found here. Insiders have acquired 7,000 shares of company stock valued at $256,830 over the last three months. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FB Financial

Several hedge funds have recently made changes to their positions in FBK. JPMorgan Chase & Co. lifted its stake in shares of FB Financial by 9.6% in the first quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock valued at $4,210,000 after buying an additional 8,263 shares during the period. American Century Companies Inc. lifted its stake in FB Financial by 20.4% during the first quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock worth $1,908,000 after purchasing an additional 7,283 shares during the period. Citigroup Inc. lifted its stake in FB Financial by 16.3% during the first quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock worth $1,404,000 after purchasing an additional 4,442 shares during the period. MetLife Investment Management LLC lifted its stake in FB Financial by 57.4% during the first quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock worth $763,000 after purchasing an additional 6,267 shares during the period. Finally, Rhumbline Advisers lifted its stake in FB Financial by 2.9% during the first quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock worth $4,129,000 after purchasing an additional 2,589 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.