FB Financial’s (FBK) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of FB Financial (NYSE:FBK) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $66.00 target price on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Raymond James Financial upgraded FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, April 7th. Finally, Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price objective on the stock in a research note on Thursday, April 2nd. One research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $64.25.

FB Financial Trading Down 1.8%

FBK stock opened at $53.23 on Tuesday. The firm’s 50-day moving average is $54.69 and its two-hundred day moving average is $55.97. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.01 and a beta of 0.98. FB Financial has a 52 week low of $39.72 and a 52 week high of $62.37.

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

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. This is an increase from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio is presently 31.58%.

Institutional Trading of FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of FB Financial by 23.8% in 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 buying an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of FB Financial by 4.6% during 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 acquiring an additional 930 shares in the last quarter. Millennium Management LLC boosted its stake in shares of FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after acquiring an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of FB Financial in the 1st quarter worth $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of FB Financial by 39.4% in 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 worth $3,715,000 after acquiring an additional 22,662 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

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.