Keefe, Bruyette & Woods Cuts FB Financial (NYSE:FBK) Price Target to $65.00

FB Financial (NYSE:FBK) had its target price trimmed by Keefe, Bruyette & Woods from $67.00 to $65.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Raymond James Financial raised shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday, April 7th. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a research report on Thursday, April 2nd. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a research report on Wednesday. Finally, Weiss Ratings lowered shares of FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $64.25.

FB Financial Stock Performance

FB Financial stock opened at $53.96 on Wednesday. The stock has a market cap of $2.80 billion, a P/E ratio of 20.28 and a beta of 0.98. FB Financial has a fifty-two week low of $39.72 and a fifty-two week high of $62.37. The firm’s fifty day moving average price is $54.53 and its 200-day moving average price is $55.96.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $172.71 million during the quarter, compared to the consensus estimate of $175.45 million. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Sell-side analysts predict that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.6%. This is a boost from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, February 10th. FB Financial’s dividend payout ratio (DPR) is presently 31.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBK. Northwestern Mutual Wealth Management Co. grew its position in FB Financial by 1,690,485.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after acquiring an additional 3,127,398 shares in the last quarter. Wellington Management Group LLP boosted its position in FB Financial by 171.3% during the fourth quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after buying an additional 1,092,126 shares during the period. North Reef Capital Management LP purchased a new stake in FB Financial during the fourth quarter valued at about $49,812,000. Deprince Race & Zollo Inc. purchased a new stake in FB Financial during the third quarter valued at about $48,674,000. Finally, Loomis Sayles & Co. L P boosted its position in FB Financial by 220.6% during the fourth quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock valued at $54,389,000 after buying an additional 670,691 shares during the period. 65.40% of the stock is currently owned by hedge funds and other 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.