FB Financial (NYSE:FBK) Hits New 52-Week High at $49.97

FB Financial Co. (NYSE:FBK)’s share price hit a new 52-week high on Wednesday . The company traded as high as $49.97 and last traded at $49.05, with a volume of 59814 shares changing hands. The stock had previously closed at $47.34.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and increased their target price for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods boosted their price target on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.33.

FB Financial Price Performance

The company has a 50-day moving average of $45.34 and a two-hundred day moving average of $39.90. The company has a market capitalization of $2.26 billion, a PE ratio of 19.89 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. The company had revenue of $128.22 million during the quarter, compared to the consensus estimate of $123.52 million. As a group, research analysts anticipate that FB Financial Co. will post 3.25 EPS for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. FB Financial’s payout ratio is 28.57%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its stake in shares of FB Financial by 85.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,679 shares during the period. SG Americas Securities LLC bought a new position in FB Financial in the 1st quarter worth approximately $165,000. Renaissance Technologies LLC bought a new position in FB Financial in the 2nd quarter worth approximately $217,000. ProShare Advisors LLC grew its holdings in FB Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after buying an additional 494 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of FB Financial by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,067 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

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.