FB Financial (NYSE:FBK) Shares Break Above Fifty Day Moving Average – What’s Next?

FB Financial Corporation (NYSE:FBK) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $53.90 and traded as high as $55.61. FB Financial shares last traded at $54.9460, with a volume of 605,185 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FBK. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Keefe, Bruyette & Woods dropped their price target on FB Financial from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of FB Financial in a research report on Wednesday, October 14th. Truist Financial set a $64.00 price objective on FB Financial in a research report on Wednesday, October 14th. Finally, Benchmark increased their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $64.43.

FB Financial Stock Up 2.6%

The company’s fifty day moving average price is $53.90 and its two-hundred day moving average price is $55.41. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 12.21 and a beta of 0.98.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The company had revenue of $175.62 million for the quarter, compared to analyst estimates of $181.56 million. On average, equities research analysts predict that FB Financial Corporation will post 4.65 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, November 10th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, November 10th. FB Financial’s payout ratio is presently 18.67%.

Insider Transactions at FB Financial

In other FB Financial news, Director Orrin Ingram, II purchased 29,081 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were purchased at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the transaction, the director directly owned 124,391 shares of the company’s stock, valued at $6,577,796.08. This represents a 30.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several hedge funds have recently modified their holdings of FBK. Corient Private Wealth LP acquired a new stake in shares of FB Financial in the second quarter valued at about $1,202,000. Penn Capital Management Company LLC raised its holdings in FB Financial by 21.2% during the second quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock worth $21,456,000 after acquiring an additional 67,656 shares in the last quarter. Jupiter Topco LLC bought a new stake in FB Financial during the second quarter worth about $21,338,000. Dimensional Fund Advisors LP boosted its position in FB Financial by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in FB Financial during the second quarter valued at approximately $39,460,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.