FB Financial (NYSE:FBK – Get Rating) had its price target decreased by Truist Financial from $46.00 to $45.00 in a research report sent to investors on Wednesday, The Fly reports. Truist Financial currently has a buy rating on the financial services provider's stock.

A number of other equities research analysts have also weighed in on FBK. JPMorgan Chase & Co. lowered their price objective on FB Financial from $41.00 to $39.00 and set an underweight rating for the company in a research note on Friday, July 1st. StockNews.com downgraded FB Financial from a hold rating to a sell rating in a research note on Tuesday, August 9th. Piper Sandler lowered their price target on FB Financial to $50.00 in a report on Monday, August 22nd. Stephens boosted their target price on FB Financial to $50.00 in a research note on Friday, July 22nd. Finally, Janney Montgomery Scott began coverage on FB Financial in a research report on Tuesday. They issued a buy rating for the company. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, FB Financial currently has an average rating of Hold and an average price target of $46.00.

FB Financial Stock Down 0.6 %

Shares of FBK opened at $39.75 on Wednesday. FB Financial has a 52-week low of $37.00 and a 52-week high of $48.03. The stock has a 50 day moving average price of $41.16 and a 200 day moving average price of $41.32. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 12.78 and a beta of 1.07.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Investors of record on Monday, August 8th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Friday, August 5th. FB Financial's payout ratio is currently 16.72%.

Institutional Investors Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in FBK. Teacher Retirement System of Texas grew its stake in shares of FB Financial by 20.3% during the fourth quarter. Teacher Retirement System of Texas now owns 6,423 shares of the financial services provider's stock worth $281,000 after buying an additional 1,085 shares during the last quarter. Southern Capital Advisors LLC bought a new stake in FB Financial in the 1st quarter worth about $311,000. Swiss National Bank grew its position in FB Financial by 8.4% in the 1st quarter. Swiss National Bank now owns 78,983 shares of the financial services provider's stock worth $3,508,000 after purchasing an additional 6,100 shares in the last quarter. 1492 Capital Management LLC grew its position in shares of FB Financial by 3.9% during the 1st quarter. 1492 Capital Management LLC now owns 39,215 shares of the financial services provider's stock valued at $1,742,000 after acquiring an additional 1,478 shares during the period. Finally, CapWealth Advisors LLC lifted its stake in shares of FB Financial by 307.3% during the 1st quarter. CapWealth Advisors LLC now owns 64,871 shares of the financial services provider's stock valued at $2,882,000 after buying an additional 48,943 shares in the last quarter. 65.10% of the stock is currently owned by institutional investors and hedge funds.

About FB Financial

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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 two segments, 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 engages in the mortgage origination business.

Further Reading

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