Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for FB Financial (NYSE:FBK)

Keefe, Bruyette & Woods reissued their market perform rating on shares of FB Financial (NYSE:FBK) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $38.00 target price on the financial services provider’s stock.

FBK has been the subject of a number of other research reports. Piper Sandler upgraded FB Financial from a neutral rating to an overweight rating and raised their target price for the stock from $38.00 to $41.00 in a research note on Tuesday. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and raised their target price for the stock from $40.00 to $40.50 in a research note on Tuesday. StockNews.com upgraded FB Financial from a sell rating to a hold rating in a research note on Tuesday. Finally, Stephens cut their price target on FB Financial from $45.00 to $41.00 and set an equal weight rating on the stock in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial currently has a consensus rating of Hold and a consensus target price of $39.43.

FB Financial Price Performance

Shares of FBK stock opened at $36.41 on Wednesday. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 15.30 and a beta of 1.15. The business has a fifty day moving average of $35.96 and a 200 day moving average of $35.17. FB Financial has a 1 year low of $24.34 and a 1 year high of $41.00.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.06. The company had revenue of $116.43 million during the quarter, compared to analyst estimates of $121.58 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. During the same quarter last year, the business posted $0.85 EPS. As a group, equities research analysts expect that FB Financial will post 2.99 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were given a dividend of $0.17 per share. This is an increase from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased 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 in the company, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. Insiders have acquired 7,000 shares of company stock worth $256,830 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of FB Financial by 570.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after buying an additional 833 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of FB Financial during the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new stake in FB Financial in the fourth quarter valued at approximately $43,000. Point72 Hong Kong Ltd raised its position in FB Financial by 413.0% in the first quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 1,301 shares during the period. Finally, Point72 Middle East FZE raised its position in FB Financial by 111.6% in the second quarter. Point72 Middle East FZE now owns 1,661 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 876 shares during the period. 65.40% of the stock is 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.