FB Financial (NYSE:FBK) Reaches New 52-Week High – What’s Next?

Shares of FB Financial Co. (NYSE:FBK) hit a new 52-week high during trading on Wednesday . The company traded as high as $53.29 and last traded at $53.29, with a volume of 637 shares traded. The stock had previously closed at $48.78.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of analyst reports. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Hovde Group boosted their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.80.

FB Financial Stock Down 3.6 %

The business’s fifty day moving average price is $47.68 and its 200 day moving average price is $42.97. The firm has a market capitalization of $2.55 billion, a PE ratio of 23.71 and a beta of 1.12.

FB Financial (NYSE:FBK) last posted its quarterly 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. The firm had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the prior year, the company posted $0.71 earnings per share. On average, analysts anticipate that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Dividend Announcement

The firm 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, November 5th. FB Financial’s dividend payout ratio is presently 29.69%.

Insider Activity

In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average cost of $48.13 per share, with a total value of $96,260.00. Following the acquisition, the insider now owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers purchased 500 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the transaction, the insider now owns 10,906,841 shares of the company’s stock, valued at $556,248,891. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $48.13 per share, for a total transaction of $96,260.00. Following the completion of the acquisition, the insider now directly owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 10,000 shares of company stock valued at $489,910. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FBK. BNP Paribas Financial Markets lifted its stake in FB Financial by 73.6% in the first quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 7,643 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after purchasing an additional 398 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of FB Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 122,390 shares of the financial services provider’s stock worth $4,609,000 after purchasing an additional 9,242 shares during the last quarter. SG Americas Securities LLC bought a new stake in FB Financial during the 1st quarter worth about $165,000. Finally, Illinois Municipal Retirement Fund grew its holdings in FB Financial by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 468 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

About FB Financial

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.