FB Financial Co. (NYSE:FBK - Get Free Report) Director James W. Iv Cross acquired 7,200 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares of the company's stock, valued at approximately $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
FB Financial Stock Performance
Shares of FB Financial stock opened at $40.55 on Thursday. The stock has a 50 day moving average price of $46.82 and a 200-day moving average price of $50.25. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 16.42 and a beta of 0.92.
FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Sell-side analysts predict that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.
FB Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.76 annualized dividend and a yield of 1.87%. This is an increase from FB Financial's previous quarterly dividend of $0.17. FB Financial's dividend payout ratio (DPR) is presently 30.77%.
Analysts Set New Price Targets
Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Stephens dropped their price target on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler lifted their price objective on FB Financial from $58.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FB Financial has an average rating of "Hold" and a consensus target price of $55.40.
Check Out Our Latest Report on FBK
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after buying an additional 314 shares during the period. Sterling Capital Management LLC boosted its stake in FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after purchasing an additional 997 shares in the last quarter. KBC Group NV grew its holdings in FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after acquiring an additional 555 shares during the period. LPL Financial LLC acquired a new position in FB Financial in the fourth quarter valued at approximately $206,000. Finally, Covenant Partners LLC purchased a new stake in FB Financial in the 4th quarter worth approximately $211,000. Institutional investors own 65.40% of the company's stock.
About FB Financial
(
Get Free Report)
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.
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