FB Financial (NYSE:FBK) Hits New 12-Month High – Time to Buy?

FB Financial Corporation (NYSE:FBK) reached a new 52-week high on Thursday . The company traded as high as $60.73 and last traded at $60.35, with a volume of 108877 shares. The stock had previously closed at $59.14.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FBK shares. Piper Sandler raised their price objective on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Price Performance

The firm has a market capitalization of $3.19 billion, a P/E ratio of 27.88 and a beta of 0.98. The company has a fifty day moving average of $56.63 and a 200 day moving average of $53.75.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The firm had revenue of $175.36 million for the quarter, compared to the consensus estimate of $168.03 million. During the same quarter in the previous year, the company earned $0.86 EPS. On average, sell-side analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a $0.19 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.76 annualized dividend and a yield of 1.3%. FB Financial’s payout ratio is presently 35.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp acquired a new stake in FB Financial during the third quarter worth approximately $26,000. UMB Bank n.a. increased its stake in shares of FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 293 shares in the last quarter. Tripletail Wealth Management LLC acquired a new stake in FB Financial in the third quarter worth $31,000. EverSource Wealth Advisors LLC increased its stake in FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 795 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 557 shares in the last quarter. 65.40% of the stock is 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.