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

by · The Markets Daily

FB Financial Corporation (NYSE:FBK – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.92 and last traded at $60.6250, with a volume of 50496 shares changing hands. The stock had previously closed at $58.52.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, FB Financial has a consensus rating of “Moderate Buy” and a consensus target price of $60.80.

Read Our Latest Stock Report on FB Financial

FB Financial Trading Up 5.5%

The business’s fifty day simple moving average is $56.78 and its 200 day simple moving average is $54.01. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 28.85 and a beta of 0.98.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a dividend of $0.19 per share. The ex-dividend date was Monday, November 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.2%. FB Financial’s dividend payout ratio (DPR) is 35.51%.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the completion of the transaction, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. The trade was a 47.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several institutional investors and hedge funds have recently made changes to their positions in FBK. Toth Financial Advisory Corp raised its stake in FB Financial by 883.2% during the 4th quarter. Toth Financial Advisory Corp now owns 18,680 shares of the financial services provider’s stock worth $1,042,000 after buying an additional 16,780 shares during the period. Albert D Mason Inc. raised its position in shares of FB Financial by 17.8% during the fourth quarter. Albert D Mason Inc. now owns 27,702 shares of the financial services provider’s stock worth $1,546,000 after purchasing an additional 4,185 shares during the period. SG Americas Securities LLC lifted its holdings in shares of FB Financial by 230.0% during the 4th quarter. SG Americas Securities LLC now owns 18,526 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 12,912 shares in the last quarter. GAMMA Investing LLC grew its position in shares of FB Financial by 23.9% in the 4th quarter. GAMMA Investing LLC now owns 2,433 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 469 shares during the period. Finally, Penn Capital Management Company LLC increased its stake in FB Financial by 9.2% during the 3rd quarter. Penn Capital Management Company LLC now owns 302,706 shares of the financial services provider’s stock worth $16,891,000 after purchasing an additional 25,610 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

(Get Free Report)

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.

Further Reading