Stephens Cuts FB Financial (NYSE:FBK) Price Target to $58.00

FB Financial (NYSE:FBK - Free Report) had its target price cut by Stephens from $65.00 to $58.00 in a research note released on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the financial services provider's stock.

Other equities research analysts have also issued research reports about the company. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. One investment 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $55.40.

FB Financial Trading Down 0.5 %

Shares of FBK traded down $0.19 during midday trading on Wednesday, reaching $40.57. 95,040 shares of the stock were exchanged, compared to its average volume of 159,393. The company's 50 day moving average is $49.23 and its two-hundred day moving average is $50.75. FB Financial has a 52 week low of $33.35 and a 52 week high of $58.88. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.38 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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, sell-side analysts expect that FB Financial will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from FB Financial's previous quarterly dividend of $0.17. FB Financial's dividend payout ratio is currently 30.77%.

Insider Activity

In other news, major shareholder James W. Ayers purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the transaction, the insider now owns 10,919,841 shares in the company, valued at $573,946,842.96. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders bought a total of 12,000 shares of company stock valued at $607,380 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in FB Financial during the third quarter worth approximately $47,000. GAMMA Investing LLC grew its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 314 shares during the period. Sterling Capital Management LLC increased its holdings in FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after acquiring an additional 997 shares in the last quarter. KBC Group NV raised its position in FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after acquiring an additional 555 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in FB Financial during the third quarter valued at $110,000. Institutional investors and hedge funds 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.