FB Financial (NYSE:FBK – Get Rating) had its target price trimmed by Truist Financial from $46.00 to $45.00 in a research report report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the financial services provider's stock.
Several other research analysts have also recently issued reports on FBK. StockNews.com cut shares of FB Financial from a hold rating to a sell rating in a report on Tuesday, August 9th. Janney Montgomery Scott started coverage on shares of FB Financial in a research note on Tuesday. They set a buy rating for the company. Stephens increased their price target on shares of FB Financial to $50.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. reduced their target price on shares of FB Financial from $41.00 to $39.00 and set an underweight rating for the company in a research note on Friday, July 1st. Finally, Piper Sandler reduced their target price on shares of FB Financial to $50.00 in a research note on Monday, August 22nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. According to MarketBeat.com, FB Financial presently has an average rating of Hold and a consensus target price of $46.00.
Get FB Financial alerts:FB Financial Stock Up 1.3 %
Shares of FBK opened at $39.83 on Wednesday. FB Financial has a fifty-two week low of $37.00 and a fifty-two week high of $48.03. The firm's 50 day moving average price is $41.17 and its 200 day moving average price is $41.35. The company has a market cap of $1.87 billion, a P/E ratio of 12.81 and a beta of 1.07.
FB Financial (NYSE:FBK – Get Rating) last announced its quarterly earnings data on Monday, July 18th. The financial services provider reported $0.64 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.14). FB Financial had a net margin of 25.37% and a return on equity of 10.88%. The firm had revenue of $135.39 million during the quarter, compared to analysts' expectations of $141.54 million. During the same period in the prior year, the company posted $0.88 earnings per share. Research analysts forecast that FB Financial will post 3.05 earnings per share for the current year.FB Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 8th were issued 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 is presently 16.72%.
Hedge Funds Weigh In On FB Financial
A number of large investors have recently made changes to their positions in FBK. Dimensional Fund Advisors LP increased its holdings in shares of FB Financial by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,408,698 shares of the financial services provider's stock valued at $61,729,000 after purchasing an additional 12,691 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in FB Financial by 20.3% during the 4th quarter. Teacher Retirement System of Texas now owns 6,423 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 1,085 shares in the last quarter. TD Asset Management Inc. increased its holdings in FB Financial by 106.3% during the 4th quarter. TD Asset Management Inc. now owns 90,382 shares of the financial services provider's stock valued at $3,961,000 after acquiring an additional 46,565 shares in the last quarter. Citigroup Inc. increased its holdings in FB Financial by 37.3% during the 4th quarter. Citigroup Inc. now owns 27,171 shares of the financial services provider's stock valued at $1,191,000 after acquiring an additional 7,376 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in FB Financial during the 4th quarter valued at about $321,000. Hedge funds and other institutional investors own 65.10% of the company's stock.
FB Financial Company Profile
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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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