FB Financial (NYSE:FBK) Price Target Cut to $58.00 by Analysts at Piper Sandler

FB Financial (NYSE:FBK) had its price target decreased by Piper Sandler from $60.00 to $58.00 in a research note published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other research firms also recently commented on FBK. Keefe, Bruyette & Woods decreased their price objective on FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a report on Thursday. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Stephens lowered their price objective on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $53.80.

FB Financial Stock Up 0.2 %

Shares of NYSE FBK opened at $40.56 on Thursday. The firm has a market cap of $1.89 billion, a PE ratio of 16.42 and a beta of 0.92. The company’s fifty day simple moving average is $46.58 and its 200 day simple moving average is $50.21. FB Financial has a 12-month low of $34.50 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The company had revenue of $130.67 million for the quarter, compared to analysts’ expectations of $132.28 million. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities analysts predict that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.87%. FB Financial’s payout ratio is 27.94%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $52.07 per share, with a total value of $104,140.00. Following the completion of the acquisition, the insider now directly owns 10,921,841 shares in the company, valued at approximately $568,700,260.87. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James W. Iv Cross purchased 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average cost of $40.49 per share, with a total value of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares of the company’s stock, valued at $2,481,146.22. The trade was a 13.31 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 15,200 shares of company stock valued at $701,468. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after buying an additional 7,021 shares during the last quarter. Northern Trust Corp grew its position in shares of FB Financial by 15.3% during the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock valued at $21,886,000 after acquiring an additional 56,474 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of FB Financial by 1.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 394,155 shares of the financial services provider’s stock worth $20,303,000 after purchasing an additional 7,037 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FB Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock worth $19,383,000 after purchasing an additional 2,943 shares during the period. Finally, Federated Hermes Inc. lifted its stake in FB Financial by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider’s stock valued at $17,510,000 after purchasing an additional 9,995 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.