FB Financial (NYSE:FBK) Stock Price Breaks Above Fifty Day Moving Average - Here's What Happened

Key Points

• FB Financial shares rose 2.6%, trading above their 50-day moving average of $53.90 and reaching as high as $55.61.
• Analysts maintained a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $64.43.
• The company reported quarterly EPS of $1.21, matching estimates, and announced a quarterly dividend of $0.21 per share, equivalent to a 1.5% annualized yield.

FB Financial Corporation (NYSE:FBK - Get Free Report) passed above its fifty day moving average during trading on Monday. The stock has a fifty 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 traded.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FBK shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of FB Financial in a research note on Wednesday, October 14th. Benchmark upped their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. Truist Financial set a $64.00 price objective on shares of FB Financial in a research note on Wednesday, October 14th. Keefe, Bruyette & Woods decreased their target price on shares of FB Financial from $65.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, October 14th. Finally, Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, FB Financial presently has a consensus rating of "Buy" and a consensus price target of $64.43.

FB Financial Stock Up 2.6%

The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.21 and a beta of 0.98. The firm has a 50-day moving average of $53.90 and a two-hundred day moving average of $55.41.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The firm had revenue of $175.62 million during the quarter, compared to the consensus estimate of $181.56 million. As a group, sell-side analysts predict that FB Financial Corporation will post 4.65 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's dividend payout ratio is currently 18.67%.

Insider Activity

In related news, Director Orrin Ingram, II purchased 29,081 shares of FB Financial stock in a transaction dated Tuesday, October 20th. The stock was acquired at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the transaction, the director directly owned 124,391 shares of the company's stock, valued at $6,577,796.08. This trade represents a 30.51% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Trading of FB Financial

A number of institutional investors have recently bought and sold shares of the company. Simplicity Wealth LLC raised its holdings in shares of FB Financial by 1.2% during the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider's stock valued at $841,000 after purchasing an additional 190 shares in the last quarter. GAMMA Investing LLC raised its holdings in FB Financial by 9.2% during the third quarter. GAMMA Investing LLC now owns 2,562 shares of the financial services provider's stock valued at $132,000 after buying an additional 216 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in FB Financial by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider's stock valued at $1,041,000 after buying an additional 235 shares in the last quarter. Arizona State Retirement System lifted its holdings in FB Financial by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 12,159 shares of the financial services provider's stock worth $673,000 after purchasing an additional 395 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in shares of FB Financial by 4.3% in the second quarter. Toth Financial Advisory Corp now owns 9,695 shares of the financial services provider's stock worth $537,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.

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