FB Financial (NYSE:FBK) Receives Market Perform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods restated their market perform rating on shares of FB Financial (NYSE:FBK) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $38.00 target price on the financial services provider’s stock.

FBK has been the topic of a number of other reports. Piper Sandler raised shares of FB Financial from a neutral rating to an overweight rating and boosted their price target for the stock from $38.00 to $41.00 in a report on Tuesday. Stephens cut their price target 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. Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and boosted their price target for the stock from $40.00 to $40.50 in a report on Tuesday. Finally, StockNews.com raised shares of FB Financial from a sell rating to a hold rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $39.43.

FB Financial Price Performance

NYSE FBK opened at $35.64 on Wednesday. FB Financial has a 1 year low of $24.34 and a 1 year high of $41.00. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15. The company has a fifty day moving average price of $35.96 and a 200-day moving average price of $35.11.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $116.43 million for 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 10.34%. During the same period in the previous year, the firm earned $0.85 EPS. On average, research analysts anticipate that FB Financial will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

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

Insider Activity

In other news, major shareholder James W. Ayers acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the purchase, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 7,000 shares of company stock worth $256,830. 1.90% of the stock is owned by company insiders.

Institutional Trading of FB Financial

Several large investors have recently added to or reduced their stakes in FBK. BlackRock Inc. raised its position in shares of FB Financial by 1.3% in the 2nd quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock worth $176,641,000 after purchasing an additional 78,805 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of FB Financial by 7.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after purchasing an additional 348,790 shares during the last quarter. Vanguard Group Inc. raised its position in shares of FB Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after purchasing an additional 49,313 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after purchasing an additional 40,394 shares during the last quarter. Finally, Wasatch Advisors Inc. raised its position in shares of FB Financial by 17.7% in the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after purchasing an additional 237,256 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

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.