FB Financial (NYSE:FBK) Rating Lowered to “Market Perform” at Hovde Group

Hovde Group lowered shares of FB Financial (NYSE:FBK) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat reports. Hovde Group currently has $60.00 price target on the financial services provider’s stock.

FBK has been the subject of several other reports. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and an average target price of $48.60.

FB Financial Trading Up 1.9 %

NYSE FBK opened at $55.35 on Monday. FB Financial has a 1-year low of $32.09 and a 1-year high of $58.88. The firm’s fifty day simple moving average is $49.58 and its 200-day simple moving average is $44.22. The company has a market capitalization of $2.58 billion, a PE ratio of 24.17 and a beta of 1.12.

FB Financial (NYSE:FBK) last posted its quarterly earnings results 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. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period last year, the business earned $0.71 EPS. As a group, analysts predict that FB Financial will post 3.38 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.23%. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Insiders Place Their Bets

In related news, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction on Monday, October 21st. The stock was bought at an average cost of $48.17 per share, with a total value of $96,340.00. Following the completion of the acquisition, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $658,460 in the last quarter. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FBK. Louisiana State Employees Retirement System raised its stake 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 valued at $691,000 after buying an additional 300 shares in the last quarter. Stifel Financial Corp lifted its position in shares of FB Financial by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock worth $3,786,000 after buying an additional 356 shares during the period. SummerHaven Investment Management LLC boosted its stake in FB Financial by 1.6% in the 2nd 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 in the last quarter. Victory Capital Management Inc. grew its position in FB Financial by 2.7% in the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 467 shares during the period. Finally, Rhumbline Advisers grew its position in FB Financial by 0.4% in the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock valued at $4,346,000 after acquiring an additional 482 shares during the period. 65.40% of the stock is currently owned by institutional investors.

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.