FB Financial Corporation (NYSE:FBK) Stock Has Average Target Price of $64.43

Shares of FB Financial Corporation (NYSE:FBK) have received an average recommendation of “Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $64.43.

A number of brokerages have commented on FBK. Truist Financial set a $64.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods cut their price target 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. Wall Street Zen cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of FB Financial in a report on Wednesday, October 14th.

FB Financial Price Performance

Shares of FBK opened at $54.23 on Monday. FB Financial has a 1-year low of $49.24 and a 1-year high of $62.65. The stock has a market cap of $2.66 billion, a PE ratio of 12.05 and a beta of 0.97. The firm has a fifty day moving average price of $53.67 and a 200 day moving average price of $55.31.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $175.62 million during the quarter, compared to analysts’ expectations of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. As a group, equities analysts expect that FB Financial will post 4.65 EPS for the current fiscal year.

FB Financial Dividend Announcement

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

Insiders Place Their Bets

In other FB Financial news, Director Orrin Ingram, II acquired 29,081 shares of the company’s 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 purchase, the director directly owned 124,391 shares in the company, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On FB Financial

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of FB Financial during the 2nd quarter valued at about $348,592,000. Dimensional Fund Advisors LP lifted its holdings in shares of FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after acquiring an additional 28,023 shares during the period. Bank of America Corp DE acquired a new stake in shares of FB Financial in the second quarter worth approximately $39,460,000. Davis Asset Management L.P. acquired a new stake in shares of FB Financial in the second quarter worth approximately $34,275,000. Finally, Penn Capital Management Company LLC grew its stake in shares of FB Financial by 21.2% during the 2nd quarter. Penn Capital Management Company LLC now owns 387,253 shares of the financial services provider’s stock valued at $21,456,000 after buying an additional 67,656 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. It operates primarily through FirstBank, which provides banking services to individuals, businesses and organizations.

Its offerings include deposit accounts, consumer and commercial loans, mortgage banking, treasury management and wealth management services. FirstBank traces its roots to 1906 and serves customers across Tennessee and other parts of the southeastern United States.