FB Financial (NYSE:FBK) Stock Price Expected to Rise, Piper Sandler Analyst Says

FB Financial (NYSE:FBK - Free Report) had its price target raised by Piper Sandler from $58.00 to $60.00 in a research report sent to investors on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Other equities analysts have also issued reports about the stock. Stephens dropped their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Finally, StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $55.40.

FB Financial Stock Performance

FBK stock traded down $0.19 during mid-day trading on Wednesday, reaching $40.57. The company had a trading volume of 95,040 shares, compared to its average volume of 159,393. FB Financial has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.38 and a beta of 0.92. The firm has a fifty day simple moving average of $49.23 and a 200 day simple moving average of $50.75.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share 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%. As a group, analysts predict that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a $0.19 dividend. 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. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. FB Financial's dividend payout ratio (DPR) is currently 30.77%.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the acquisition, the insider now owns 10,931,841 shares of the company's stock, valued at $530,303,606.91. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders purchased 12,000 shares of company stock worth $607,380. 1.70% of the stock is owned by company insiders.

Institutional Trading of FB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of FBK. JPMorgan Chase & Co. grew its stake in FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock worth $13,544,000 after buying an additional 196,172 shares during the period. Raymond James Financial Inc. purchased a new stake in FB Financial during the 4th quarter worth $9,546,000. 12th Street Asset Management Company LLC increased its holdings in FB Financial by 65.2% in the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider's stock valued at $10,163,000 after purchasing an additional 77,885 shares in the last quarter. Tudor Investment Corp ET AL raised its position in FB Financial by 489.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider's stock valued at $3,642,000 after purchasing an additional 58,703 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of FB Financial by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider's stock worth $13,383,000 after purchasing an additional 58,402 shares in the last quarter. Institutional investors and hedge funds 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.