FB Financial Corporation (NYSE:FBK) Stock Now Rated “Buy” by Wall Street Brokerages

FB Financial Corporation (NYSE:FBK) has received a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $64.43.

A number of research analysts have issued reports on FBK shares. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. Keefe, Bruyette & Woods cut their target price on FB Financial from $65.00 to $64.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Wall Street Zen lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Truist Financial set a $64.00 price objective on shares of FB Financial in a research report on Wednesday, October 14th. Finally, Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th.

FB Financial Stock Up 0.3%

Shares of NYSE:FBK opened at $54.69 on Monday. FB Financial has a twelve month low of $49.24 and a twelve month high of $62.65. The stock’s 50 day moving average is $53.48 and its 200-day moving average is $55.21. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 12.15 and a beta of 0.97.

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

FB Financial Announces Dividend

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

Insider Activity at FB Financial

In other news, Director Orrin Ingram, II bought 29,081 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was purchased at an average price of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP lifted its holdings in shares of FB Financial by 2,621.0% during the third quarter. Marshall Wace LLP now owns 105,358 shares of the financial services provider’s stock worth $5,447,000 after purchasing an additional 101,486 shares during the period. First Trust Advisors LP raised its holdings in FB Financial by 149.0% in the 3rd quarter. First Trust Advisors LP now owns 39,151 shares of the financial services provider’s stock valued at $2,024,000 after acquiring an additional 23,430 shares during the last quarter. GW&K Investment Management LLC lifted its position in FB Financial by 3.3% during the third quarter. GW&K Investment Management LLC now owns 478,629 shares of the financial services provider’s stock worth $24,745,000 after buying an additional 15,451 shares during the period. Private Wealth Asset Management LLC acquired a new stake in shares of FB Financial during the 3rd quarter worth $239,000. Finally, Banc Funds Co. LLC increased its holdings in FB Financial by 5.6% in the 3rd quarter. Banc Funds Co. LLC now owns 37,496 shares of the financial services provider’s stock valued at $1,939,000 after purchasing an additional 2,000 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Company Profile

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.