Hovde Group lowered shares of FB Financial (NYSE:FBK - Free Report) from an outperform rating to a market perform rating in a report issued on Monday, Marketbeat.com reports. They currently have $60.00 target price on the financial services provider's stock.
Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of FB Financial from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, FB Financial currently has a consensus rating of "Hold" and a consensus price target of $48.60.
Check Out Our Latest Research Report on FB Financial
FB Financial Stock Performance
Shares of NYSE:FBK traded down $1.05 during midday trading on Monday, hitting $54.78. The company's stock had a trading volume of 149,759 shares, compared to its average volume of 148,659. FB Financial has a 12-month low of $32.09 and a 12-month high of $58.88. The company has a market cap of $2.56 billion, a P/E ratio of 24.38 and a beta of 1.12. The business's 50 day simple moving average is $48.80 and its 200 day simple moving average is $43.84.
FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The business had revenue of $169.13 million for the quarter, compared to analysts' expectations of $127.44 million. During the same period in the previous year, the firm posted $0.71 EPS. On average, sell-side analysts predict that FB Financial will post 3.38 earnings per share for the current fiscal year.
FB Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 5th. FB Financial's payout ratio is currently 29.69%.
Insiders Place Their Bets
In related news, Director James W. Iv Cross sold 5,000 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company's stock in a transaction that occurred on Monday, October 21st. The stock was acquired at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the acquisition, the insider now directly owns 10,894,341 shares of the company's stock, valued at $524,780,405.97. The trade was a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 13,000 shares of company stock worth $658,460 in the last quarter. 1.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On FB Financial
A number of large investors have recently bought and sold shares of FBK. Point72 Asset Management L.P. acquired a new position in shares of FB Financial during the 3rd quarter worth $47,000. nVerses Capital LLC acquired a new position in FB Financial during the third quarter worth $84,000. Point72 DIFC Ltd purchased a new stake in FB Financial during the third quarter worth $110,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in FB Financial in the third quarter valued at $124,000. Finally, Raymond James Trust N.A. purchased a new position in shares of FB Financial in the third quarter valued at $201,000. Hedge funds and other institutional investors own 65.40% of the company's stock.
About FB Financial
(
Get Free Report)
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.
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