JPMorgan Chase & Co. Raises FB Financial (NYSE:FBK) Price Target to $43.00

FB Financial (NYSE:FBK) had its price objective increased by JPMorgan Chase & Co. from $41.00 to $43.00 in a research report sent to investors on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on FBK. Piper Sandler raised shares of FB Financial from a neutral rating to an overweight rating and lifted their price target for the stock from $38.00 to $41.00 in a research note on Tuesday. Hovde Group raised shares of FB Financial from a market perform rating to an outperform rating and lifted their price target for the stock from $40.00 to $40.50 in a research note on Tuesday. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $38.00 price target on shares of FB Financial in a research note on Wednesday. Stephens dropped their price target on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research note on Wednesday, January 17th. Finally, StockNews.com raised shares of FB Financial from a sell rating to a hold rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, FB Financial presently has a consensus rating of Hold and an average price target of $39.43.

FB Financial Trading Up 2.4 %

Shares of FBK stock opened at $36.41 on Wednesday. The company’s fifty day simple moving average is $35.96 and its 200-day simple moving average is $35.17. FB Financial has a 52 week low of $24.34 and a 52 week high of $41.00. The company has a market cap of $1.71 billion, a PE ratio of 15.30 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The firm had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same quarter in the previous year, the firm posted $0.85 EPS. Equities research analysts expect that FB Financial will post 2.99 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a $0.17 dividend. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, February 12th. FB Financial’s dividend payout ratio is currently 28.57%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, with a total value of $107,730.00. Following the purchase, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired 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 owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,000 shares of company stock valued at $256,830. Company insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBK. T. Rowe Price Investment Management Inc. lifted its stake in FB Financial by 7.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock valued at $186,833,000 after purchasing an additional 348,790 shares during the last quarter. Wellington Management Group LLP acquired a new stake in FB Financial during the first quarter valued at approximately $13,000,000. Heartland Advisors Inc. acquired a new stake in FB Financial during the fourth quarter valued at approximately $11,237,000. Wasatch Advisors Inc. lifted its stake in FB Financial by 17.7% during the first quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock valued at $70,169,000 after purchasing an additional 237,256 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in FB Financial by 26.3% during the fourth quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after purchasing an additional 220,835 shares during the last quarter. 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.