FB Financial (FBK) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of FB Financial (NYSE:FBK) from a hold rating to a buy rating in a research note published on Monday morning, Zacks.com reports. The firm currently has $39.00 price target on the financial services provider’s stock.
According to Zacks, “FB Financial Corp is a bank holding company. It operates through its wholly owned banking subsidiary, FirstBank. The company provides commercial and consumer banking services to clients. It operates primarily in Tennessee, North Alabama and North Georgia. The company also provides national mortgage business. FB Financial Corp is headquartered in Nashville, Tennessee. “
Separately, TheStreet upgraded FB Financial from a c+ rating to a b rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $41.25.
FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, April 22nd. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. FB Financial had a return on equity of 12.44% and a net margin of 21.24%. The company had revenue of $82.06 million during the quarter, compared to the consensus estimate of $80.29 million. On average, equities research analysts expect that FB Financial will post 2.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Wednesday, May 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.91%. FB Financial’s dividend payout ratio (DPR) is presently 12.26%.
In other FB Financial news, Director Raja J. Jubran bought 2,933 shares of FB Financial stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $34.09 per share, for a total transaction of $99,985.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 45.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of FB Financial by 19.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,170 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 518 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of FB Financial by 4.1% in the fourth quarter. Victory Capital Management Inc. now owns 15,843 shares of the financial services provider’s stock valued at $555,000 after purchasing an additional 618 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of FB Financial by 158.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,133 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 694 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of FB Financial by 11.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,822 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 1,145 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of FB Financial in the first quarter valued at $44,000. Institutional investors own 52.83% of the company’s stock.
About FB Financial
FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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