FB Financial (NYSE:FBK) PT Raised to $50.00 at Keefe, Bruyette & Woods

FB Financial (NYSE:FBK) had its target price increased by Keefe, Bruyette & Woods from $48.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

FBK has been the topic of several other reports. JPMorgan Chase & Co. dropped their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Stephens reiterated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.70.

FB Financial Stock Down 1.6 %

Shares of NYSE:FBK opened at $49.18 on Wednesday. FB Financial has a 52 week low of $27.75 and a 52 week high of $51.40. The company’s fifty day moving average is $46.43 and its 200 day moving average is $41.63. The stock has a market cap of $2.31 billion, a PE ratio of 20.66 and a beta of 1.13.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. The firm had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. During the same period last year, the company earned $0.71 EPS. Sell-side analysts anticipate that FB Financial will post 3.25 EPS for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio is 28.57%.

Institutional Investors Weigh In On FB Financial

Several hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System raised its position in shares of FB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 300 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in 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 worth $1,158,000 after purchasing an additional 398 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in shares of FB Financial by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 412 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after buying an additional 467 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of 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 buying an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

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.