JPMorgan Chase & Co. Boosts FB Financial (NYSE:FBK) Price Target to $43.00

FB Financial (NYSE:FBK) had its price target raised by JPMorgan Chase & Co. from $41.00 to $43.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of FB Financial from a sell rating to a hold rating in a research note on Tuesday. Stephens decreased their price objective on shares of FB Financial from $45.00 to $41.00 and set an equal weight rating for the company in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods reiterated a market perform rating and set a $38.00 price objective on shares of FB Financial in a research report on Wednesday. Hovde Group upgraded shares of FB Financial from a market perform rating to an outperform rating and increased their price objective for the stock from $40.00 to $40.50 in a research report on Tuesday. Finally, Piper Sandler upgraded shares of FB Financial from a neutral rating to an overweight rating and increased their price objective for the stock from $38.00 to $41.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $39.43.

FB Financial Trading Down 1.4 %

Shares of FB Financial stock opened at $35.64 on Wednesday. The company has a market cap of $1.67 billion, a PE ratio of 14.97 and a beta of 1.15. The company has a 50 day moving average of $35.96 and a 200-day moving average of $35.11. FB Financial has a 1-year low of $24.34 and a 1-year high of $41.00.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.34%. During the same quarter last year, the firm earned $0.85 earnings per share. Research analysts forecast that FB Financial will post 2.84 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a dividend of $0.17 per share. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, with a total value of $72,700.00. Following the completion of the transaction, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction on 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 completion of the purchase, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was bought at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the purchase, the insider now 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. Insiders have bought 7,000 shares of company stock valued at $256,830 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of FB Financial

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of FB Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares in the last quarter. Mendon Capital Advisors Corp purchased a new stake in shares of FB Financial during the 4th quarter valued at approximately $5,978,000. Price T Rowe Associates Inc. MD lifted its stake in shares of FB Financial by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,722 shares of the financial services provider’s stock valued at $348,000 after buying an additional 809 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of FB Financial during the 4th quarter valued at approximately $241,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of FB Financial by 139.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,117 shares of the financial services provider’s stock valued at $722,000 after buying an additional 10,558 shares in the last quarter. 65.40% of the stock is currently 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.