FB Financial (NYSE:FBK) Price Target Lowered to $42.00 at JPMorgan Chase & Co.

FB Financial (NYSE:FBK) had its target price lowered by JPMorgan Chase & Co. from $43.00 to $42.00 in a research report report published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

A number of other brokerages also recently commented on FBK. Stephens upgraded FB Financial from an equal weight rating to an overweight rating and upped their target price for the company from $39.00 to $45.00 in a report on Thursday, May 23rd. Hovde Group upgraded FB Financial from a market perform rating to an outperform rating and lifted their price objective for the company from $40.00 to $40.50 in a research note on Tuesday, April 16th. Piper Sandler raised FB Financial from a neutral rating to an overweight rating and increased their target price for the stock from $38.00 to $41.00 in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods restated a market perform rating and set a $38.00 price objective on shares of FB Financial in a research note on Wednesday, April 17th. Finally, StockNews.com raised FB Financial from a sell rating to a hold rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $39.86.

FB Financial Stock Performance

Shares of NYSE FBK opened at $37.82 on Thursday. The stock has a fifty day moving average of $37.37 and a 200-day moving average of $37.20. The stock has a market cap of $1.78 billion, a PE ratio of 15.89 and a beta of 1.13. FB Financial has a fifty-two week low of $26.71 and a fifty-two week high of $41.00.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.70 by $0.15. The firm had revenue of $107.45 million for the quarter, compared to analyst estimates of $119.84 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. On average, sell-side analysts predict that FB Financial will post 3.12 EPS for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, May 13th. FB Financial’s payout ratio is currently 28.57%.

Institutional Investors Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in FBK. SummerHaven Investment Management LLC raised its holdings in FB Financial by 1.1% during the 4th quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 278 shares during the period. Albert D Mason Inc. grew its holdings in FB Financial by 1.3% during the 1st quarter. Albert D Mason Inc. now owns 23,099 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 297 shares in the last quarter. Mariner LLC increased its holdings in FB Financial by 1.6% during the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after buying an additional 323 shares during the period. Texas Permanent School Fund Corp boosted its position in FB Financial by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after acquiring an additional 398 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of FB Financial by 17.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock worth $85,000 after buying an additional 449 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Company Profile

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.