FB Financial (NYSE:FBK) Shares Gap Down – Here’s What Happened

Shares of FB Financial Co. (NYSE:FBK) gapped down prior to trading on Tuesday . The stock had previously closed at $41.15, but opened at $39.47. FB Financial shares last traded at $41.05, with a volume of 25,178 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Stephens lowered their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler boosted their price target on FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, FB Financial presently has an average rating of “Hold” and a consensus target price of $55.40.

FB Financial Stock Performance

The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 16.42 and a beta of 0.92. The business’s 50 day moving average price is $46.82 and its 200-day moving average price is $50.25.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The company had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. During the same quarter last year, the firm earned $0.85 EPS. On average, analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.19 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.87%. FB Financial’s dividend payout ratio (DPR) is currently 30.77%.

Insider Buying and Selling

In other news, Director James W. Iv Cross acquired 7,200 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were bought at an average price of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. This represents a 13.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $48.51 per share, with a total value of $97,020.00. Following the purchase, the insider now directly owns 10,931,841 shares of the company’s stock, valued at approximately $530,303,606.91. This represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 15,200 shares of company stock valued at $701,468 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after buying an additional 2,109 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of FB Financial by 120.6% in the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock worth $3,355,000 after acquiring an additional 39,086 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of FB Financial during the third quarter worth $346,000. Barclays PLC lifted its holdings in shares of FB Financial by 58.3% during the third quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after purchasing an additional 34,633 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of FB Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after purchasing an additional 7,021 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

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.