FB Financial (NYSE:FBK) Shares Gap Down – What’s Next?

FB Financial Corporation (NYSE:FBK)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $60.75, but opened at $56.90. FB Financial shares last traded at $57.2050, with a volume of 5,765 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $66.00 price target (up previously from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research report on Thursday. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $65.00 in a research note on Friday. Finally, Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

FB Financial Stock Performance

The business’s fifty day moving average price is $57.09 and its two-hundred day moving average price is $54.28. The stock has a market capitalization of $3.10 billion, a P/E ratio of 24.11 and a beta of 0.98.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio (DPR) is presently 31.67%.

Insider Buying and Selling

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the transaction, the insider directly owned 9,484 shares in the company, valued at $569,609.04. The trade was a 47.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On FB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Savant Capital LLC raised its position in FB Financial by 5.2% in the third quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 245 shares during the period. Mutual of America Capital Management LLC raised its stake in FB Financial by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 278 shares during the last quarter. UMB Bank n.a. raised its stake in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after buying an additional 293 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of FB Financial by 4.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 299 shares during the period. Finally, GAMMA Investing LLC lifted its stake in FB Financial by 24.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock valued at $109,000 after buying an additional 387 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.