Janney Montgomery Scott began coverage on shares of FB Financial (NYSE:FBK – Get Rating) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating on the financial services provider's stock.
Several other research firms have also weighed in on FBK. Truist Financial cut their target price on FB Financial to $46.00 in a report on Friday, July 22nd. Piper Sandler reduced their price objective on FB Financial to $50.00 in a research report on Monday, August 22nd. Stephens increased their price objective on FB Financial to $50.00 in a research report on Friday, July 22nd. JPMorgan Chase & Co. reduced their price objective on FB Financial from $41.00 to $39.00 and set an underweight rating for the company in a research report on Friday, July 1st. Finally, StockNews.com cut FB Financial from a hold rating to a sell rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, FB Financial presently has an average rating of Hold and a consensus price target of $46.00.
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FB Financial Stock Down 0.6 %
Shares of FB Financial stock opened at $39.75 on Tuesday. The stock has a market cap of $1.86 billion, a PE ratio of 12.78 and a beta of 1.07. FB Financial has a 12 month low of $37.00 and a 12 month high of $48.03. The business has a fifty day simple moving average of $41.16 and a 200-day simple moving average of $41.32.
FB Financial (NYSE:FBK – Get Rating) last released its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.14). The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $141.54 million. FB Financial had a net
margin of 25.37% and a return on equity of 10.88%. During the same period in the previous year, the business posted $0.88 EPS. Analysts expect that FB Financial will post 3.05 EPS for the current fiscal year.
FB Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were paid a $0.13 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.31%. FB Financial's dividend payout ratio (DPR) is presently 16.72%.
Institutional Trading of FB Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in FBK. Wellington Management Group LLP acquired a new stake in FB Financial in the first quarter worth about $13,000,000. Wasatch Advisors Inc. boosted its holdings 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 worth $70,169,000 after buying an additional 237,256 shares during the last quarter. RMB Capital Management LLC bought a new position in FB Financial during the second quarter worth about $7,844,000. BlackRock Inc. boosted its holdings in FB Financial by 1.9% during the first quarter. BlackRock Inc. now owns 5,600,209 shares of the financial services provider's stock worth $248,763,000 after buying an additional 103,314 shares during the last quarter. Finally, State Street Corp boosted its holdings in FB Financial by 6.8% during the first quarter. State Street Corp now owns 1,446,278 shares of the financial services provider's stock worth $64,244,000 after buying an additional 92,312 shares during 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.
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