FB Financial (NYSE:FBK) Sets New 12-Month High – Still a Buy?

Shares of FB Financial Corporation (NYSE:FBK) reached a new 52-week high during trading on Wednesday . The stock traded as high as $60.92 and last traded at $60.6250, with a volume of 50496 shares. The stock had previously closed at $58.52.

Analysts Set New Price Targets

FBK has been the subject of a number of recent research reports. Piper Sandler upped their price objective on shares of FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Weiss Ratings restated 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 report on Sunday, November 16th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Stock Performance

The firm’s 50-day simple moving average is $56.78 and its 200-day simple moving average is $54.01. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 28.85 and a beta of 0.98.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, November 10th. FB Financial’s payout ratio is currently 35.51%.

Insider Activity at FB Financial

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of FB Financial stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in shares of FB Financial by 23.8% in the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after buying an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in FB Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares in the last quarter. Millennium Management LLC lifted its stake in FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of FB Financial in the 1st quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of FB Financial by 39.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after buying an additional 22,662 shares in the last quarter. Institutional investors and hedge funds 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.