Keefe, Bruyette & Woods Reiterates Market Perform Rating for FB Financial (NYSE:FBK)

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of FB Financial (NYSE:FBK) in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $38.00 price objective on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. StockNews.com raised FB Financial from a sell rating to a hold rating in a research report on Tuesday. Piper Sandler raised FB Financial from a neutral rating to an overweight rating and increased their price target for the stock from $38.00 to $41.00 in a research report on Tuesday. Stephens dropped their price target on FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research report on Wednesday, January 17th. Finally, Hovde Group raised FB Financial from a market perform rating to an outperform rating and raised their price objective for the company from $40.00 to $40.50 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $39.43.

FB Financial Stock Down 1.4 %

FBK stock opened at $35.64 on Wednesday. The business’s fifty day simple moving average is $35.96 and its two-hundred day simple moving average is $35.11. FB Financial has a twelve month low of $24.34 and a twelve month high of $41.00. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. The business had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. During the same quarter last year, the firm posted $0.85 earnings per share. Research analysts expect that FB Financial will post 2.84 EPS for the current year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Monday, February 12th. This is an increase from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers acquired 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $36.35 per share, with a total value of $72,700.00. Following the completion of the purchase, the insider now directly owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers purchased 3,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 7,000 shares of company stock valued at $256,830. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of FB Financial by 570.5% in the first quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 833 shares during the last quarter. Lazard Asset Management LLC acquired a new position in FB Financial during the third quarter worth $31,000. GAMMA Investing LLC acquired a new position in FB Financial during the fourth quarter worth $43,000. Point72 Hong Kong Ltd boosted its stake in FB Financial by 413.0% during the first quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock worth $72,000 after buying an additional 1,301 shares during the last quarter. Finally, Point72 Middle East FZE boosted its stake in FB Financial by 111.6% during the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock worth $47,000 after buying an additional 876 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

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.