FB Financial (NYSE:FBK) Cut to Sell at StockNews.com

StockNews.com lowered shares of FB Financial (NYSE:FBK) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Several other analysts also recently commented on the company. Keefe, Bruyette & Woods raised their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, Hovde Group increased their target price on FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, FB Financial currently has a consensus rating of “Hold” and an average target price of $47.80.

FB Financial Stock Performance

FB Financial stock opened at $48.94 on Wednesday. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 21.37 and a beta of 1.13. FB Financial has a 52-week low of $29.55 and a 52-week high of $51.63. The stock’s 50 day moving average price is $47.33 and its two-hundred day moving average price is $42.53.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. During the same period in the prior year, the firm earned $0.71 earnings per share. On average, equities research analysts forecast that FB Financial will post 3.34 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.39%. FB Financial’s payout ratio is 29.69%.

Insider Activity

In other news, major shareholder James W. Ayers purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the acquisition, the insider now owns 10,892,341 shares in the company, valued at $540,042,266.78. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the transaction, the insider now directly owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers bought 1,500 shares of FB Financial stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $49.58 per share, with a total value of $74,370.00. Following the purchase, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 10,000 shares of company stock worth $489,910 over the last quarter. Insiders own 1.70% of the company’s stock.

Institutional Trading of FB Financial

A number of institutional investors have recently modified their holdings of FBK. Louisiana State Employees Retirement System raised its holdings in FB Financial by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 300 shares during the period. Texas Permanent School Fund Corp grew its position in shares of FB Financial by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 398 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of FB Financial by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 412 shares during the period. Victory Capital Management Inc. lifted its holdings in FB Financial by 2.7% during the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 467 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in FB Financial by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 468 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.