FB Financial Corporation (NYSE:FBK) Receives $64.00 Average Price Target from Brokerages

Shares of FB Financial Corporation (NYSE:FBK) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $64.00.

FBK has been the topic of a number of recent analyst reports. Raymond James Financial raised shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday, April 7th. Keefe, Bruyette & Woods cut their price target on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 price target on shares of FB Financial in a report on Wednesday, April 15th. Hovde Group cut their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd.

Institutional Investors Weigh In On FB Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Simplicity Wealth LLC lifted its position in shares of FB Financial by 1.2% in the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 190 shares during the period. ProShare Advisors LLC lifted its position in shares of FB Financial by 2.8% in the 4th quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 216 shares during the period. Inspire Investing LLC lifted its position in shares of FB Financial by 2.7% in the 4th quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 219 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of FB Financial by 1.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 235 shares during the period. Finally, Savant Capital LLC lifted its position in shares of FB Financial by 5.2% in the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 245 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Up 0.3%

Shares of FB Financial stock opened at $52.73 on Monday. The firm has a market cap of $2.72 billion, a PE ratio of 19.82 and a beta of 0.97. FB Financial has a 12-month low of $42.29 and a 12-month high of $62.37. The company’s fifty day simple moving average is $53.01 and its two-hundred day simple moving average is $55.53.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $172.71 million during the quarter, compared to the consensus estimate of $175.45 million. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.FB Financial’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the business earned $0.85 EPS. As a group, sell-side analysts expect that FB Financial will post 4.71 earnings per share for the current fiscal year.

FB Financial announced that its board has approved a stock buyback program on Monday, April 27th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 12th. FB Financial’s dividend payout ratio (DPR) is currently 31.58%.

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.