FB Financial (NYSE:FBK) Upgraded at Piper Sandler

Piper Sandler upgraded shares of FB Financial (NYSE:FBK) from a neutral rating to an overweight rating in a report published on Thursday morning, Marketbeat reports. Piper Sandler currently has $65.00 target price on the financial services provider’s stock.

Separately, Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $63.00.

FB Financial Price Performance

Shares of FB Financial stock opened at $53.34 on Thursday. FB Financial has a 1 year low of $38.83 and a 1 year high of $62.37. The firm’s 50-day moving average is $55.39 and its 200 day moving average is $55.95. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 22.22 and a beta of 0.98.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The business had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same period last year, the business earned $0.85 EPS. On average, equities analysts expect that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, February 10th. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio is 35.00%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This represents a 47.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

A number of large investors have recently made changes to their positions in FBK. AQR Capital Management LLC lifted its position in FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after purchasing an additional 11,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the period. Millennium Management LLC raised its stake in FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after buying an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in FB Financial during the 1st quarter valued at $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of FB Financial by 39.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after buying an additional 22,662 shares during the period. 65.40% of the stock is currently owned by institutional investors.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.