FB Financial (NYSE:FBK) Reaches New 52-Week High - Should You Buy?

FB Financial Co. (NYSE:FBK - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $51.63 and last traded at $51.03, with a volume of 29715 shares. The stock had previously closed at $49.94.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of FB Financial from $48.00 to $50.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 16th. Hovde Group lifted their price target on FB Financial from $52.50 to $56.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Stephens reiterated an "overweight" rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Finally, Piper Sandler cut FB Financial from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FB Financial currently has an average rating of "Hold" and a consensus target price of $47.80.

FB Financial Stock Performance

The company has a 50 day moving average of $47.23 and a 200 day moving average of $42.38. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 21.18 and a beta of 1.13.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly 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. The firm had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period last year, the firm posted $0.71 earnings per share. On average, equities analysts predict that FB Financial Co. will post 3.34 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.35%. FB Financial's payout ratio is 28.57%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were acquired at an average price of $48.13 per share, with a total value of $96,260.00. Following the purchase, the insider now directly owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder James W. Ayers acquired 1,500 shares of the company's stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the purchase, the insider now owns 10,892,341 shares of the company's stock, valued at $540,042,266.78. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were purchased at an average cost of $48.13 per share, for a total transaction of $96,260.00. Following the purchase, the insider now owns 10,902,341 shares in the company, valued at $524,729,672.33. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 9,500 shares of company stock valued at $464,410 over the last ninety days. Company 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 stock. Vanguard Group Inc. increased its holdings in shares of FB Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider's stock valued at $97,816,000 after acquiring an additional 49,313 shares during the period. Principal Financial Group Inc. grew its stake in shares of FB Financial by 7.3% in the 1st quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider's stock valued at $7,399,000 after purchasing an additional 13,306 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of FB Financial by 73.6% in the first quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider's stock valued at $679,000 after purchasing an additional 7,643 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of FB Financial by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider's stock worth $1,158,000 after purchasing an additional 398 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of FB Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 122,390 shares of the financial services provider's stock worth $4,609,000 after purchasing an additional 9,242 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

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.