Investment Analysts’ Weekly Ratings Changes for FB Financial (FBK)

Posted by Stacy Sanders on Apr 22nd, 2024

Several brokerages have updated their recommendations and price targets on shares of FB Financial (NYSE: FBK) in the last few weeks:

4/17/2024 – FB Financial had its price target raised by analysts at JPMorgan Chase & Co. from $41.00 to $43.00. They now have an “underweight” rating on the stock.
4/17/2024 – FB Financial had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $38.00 price target on the stock.
4/16/2024 – FB Financial was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $41.00 price target on the stock, up previously from $38.00.
4/16/2024 – FB Financial was upgraded by analysts at Hovde Group from a “market perform” rating to an “outperform” rating. They now have a $40.50 price target on the stock, up previously from $40.00.
4/16/2024 – FB Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
3/21/2024 – FB Financial was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
3/13/2024 – FB Financial was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

FB Financial Trading Up 1.3 %

Shares of FBK stock traded up $0.49 on Monday, hitting $36.90. 36,614 shares of the stock were exchanged, compared to its average volume of 136,025. The firm has a market capitalization of $1.73 billion, a P/E ratio of 15.50 and a beta of 1.15. The business has a 50-day moving average of $35.96 and a 200 day moving average of $35.27. FB Financial Co. has a fifty-two week low of $24.34 and a fifty-two week high of $41.00.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.84%. The ex-dividend date was Monday, February 12th. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio is presently 28.57%.

Insider Buying and Selling

In related news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FB Financial news, major shareholder James W. Ayers acquired 3,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the purchase, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of FB Financial by 261.5% in the 3rd quarter. SG Americas Securities LLC now owns 21,203 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 15,337 shares during the last quarter. Everence Capital Management Inc. bought a new position in FB Financial during the 3rd quarter worth $209,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in FB Financial by 35.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,018 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 2,102 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in FB Financial by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 181,532 shares of the financial services provider’s stock worth $5,148,000 after purchasing an additional 4,615 shares during the last quarter. Finally, Wakefield Asset Management LLLP bought a new position in FB Financial during the 3rd quarter worth $648,000. Institutional investors own 65.40% of the company’s stock.

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.