FB Financial (NYSE:FBK) Hits New 52-Week High – Still a Buy?

FB Financial Co. (NYSE:FBK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $53.29 and last traded at $53.29, with a volume of 637 shares. The stock had previously closed at $48.78.

Analyst Ratings Changes

A number of brokerages have recently commented on FBK. Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Hovde Group raised their price objective on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research note on Tuesday, July 16th. Finally, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, FB Financial currently has an average rating of “Hold” and a consensus target price of $47.80.

FB Financial Trading Up 15.3 %

The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 23.87 and a beta of 1.12. The firm’s 50 day simple moving average is $47.38 and its 200-day simple moving average is $42.79.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The company had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. During the same period in the previous year, the firm earned $0.71 EPS. As a group, sell-side analysts forecast that FB Financial Co. will post 3.34 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers purchased 500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $51.00 per share, for a total transaction of $25,500.00. Following the acquisition, the insider now directly owns 10,906,841 shares in the company, valued at $556,248,891. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers bought 500 shares of FB Financial stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the purchase, the insider now owns 10,906,841 shares in the company, valued at $556,248,891. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was bought at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the transaction, the insider now directly owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 10,000 shares of company stock worth $489,910 in the last 90 days. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in FB Financial by 73.6% during the 1st quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 7,643 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of 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 worth $1,158,000 after purchasing an additional 398 shares in the last quarter. Empowered Funds LLC raised its stake in shares of FB Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 122,390 shares of the financial services provider’s stock worth $4,609,000 after purchasing an additional 9,242 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the 1st quarter worth about $165,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of FB Financial by 2.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 468 shares in the last quarter. Institutional investors own 65.40% 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 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.