FB Financial Corporation (NYSE:FBK) Receives $61.20 Consensus Target Price from Brokerages

FB Financial Corporation (NYSE:FBK) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.20.

FBK has been the subject of several research analyst reports. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $65.00 in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd.

FB Financial Price Performance

FB Financial stock opened at $58.96 on Friday. FB Financial has a 12-month low of $38.83 and a 12-month high of $62.37. The stock has a market capitalization of $3.15 billion, a PE ratio of 24.57 and a beta of 1.00. The firm has a 50 day simple moving average of $58.31 and a 200-day simple moving average of $55.33.

FB Financial (NYSE:FBK) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $178.36 million during the quarter, compared to the consensus estimate of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same period in the prior year, the firm posted $0.85 earnings per share. On average, analysts forecast that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.4%. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, February 10th. FB Financial’s dividend payout ratio (DPR) is presently 35.00%.

Insider Activity

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the transaction, the insider owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in shares of FB Financial by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 216 shares during the last quarter. Savant Capital LLC raised its holdings in FB Financial by 5.2% during the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after buying an additional 245 shares during the period. Mutual of America Capital Management LLC lifted its stake in FB Financial by 6.3% during the third quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after buying an additional 278 shares in the last quarter. TBH Global Asset Management LLC boosted its holdings in shares of FB Financial by 5.3% in the fourth quarter. TBH Global Asset Management LLC now owns 5,792 shares of the financial services provider’s stock worth $323,000 after buying an additional 292 shares during the period. Finally, UMB Bank n.a. increased its position in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 293 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

About FB Financial

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.