Stephens Has Lowered Expectations for FB Financial (NYSE:FBK) Stock Price

FB Financial (NYSE:FBK) had its price target trimmed by Stephens from $65.00 to $58.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on FBK. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $60.00 to $59.00 in a research note on Tuesday. Keefe, Bruyette & Woods upped their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. 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 stock. Based on data from MarketBeat.com, FB Financial currently has an average rating of “Hold” and an average price target of $55.40.

FB Financial Stock Performance

NYSE:FBK opened at $40.74 on Wednesday. The stock has a market capitalization of $1.90 billion, a P/E ratio of 16.50 and a beta of 1.16. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The company’s 50-day simple moving average is $49.23 and its 200-day simple moving average is $50.71.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. On average, research analysts forecast that FB Financial will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.87%. 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. FB Financial’s dividend payout ratio is 30.77%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of $50.26 per share, with a total value of $100,520.00. Following the completion of the transaction, the insider now directly owns 10,915,841 shares in the company, valued at approximately $548,630,168.66. This represents a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 14,000 shares of company stock valued at $710,180 in the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

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