FB Financial Corporation (NYSE:FBK) Receives $64.25 Consensus Target Price from Brokerages

FB Financial Corporation (NYSE:FBK) has received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $64.00.

Several brokerages have recently commented on FBK. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price objective for the company in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 price objective on shares of FB Financial in a research report on Wednesday, April 15th. Raymond James Financial raised shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a research report on Tuesday, April 7th. Finally, Hovde Group reduced their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday.

Hedge Funds Weigh In On FB Financial

A number of large investors have recently modified their holdings of FBK. UMB Bank n.a. lifted its holdings 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 worth $27,000 after purchasing an additional 293 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in shares of FB Financial in the 4th quarter worth $27,000. Assetmark Inc. bought a new position in shares of FB Financial in the 4th quarter worth $30,000. Tripletail Wealth Management LLC bought a new position in shares of FB Financial in the 3rd quarter worth $31,000. Finally, Global Retirement Partners LLC bought a new position in shares of FB Financial in the 4th quarter worth $37,000. 65.40% of the stock is currently owned by institutional investors.

FB Financial Stock Performance

NYSE:FBK opened at $53.71 on Thursday. The company has a market capitalization of $2.78 billion, a PE ratio of 20.19 and a beta of 0.98. The company has a 50 day simple moving average of $53.65 and a two-hundred day simple moving average of $55.75. FB Financial has a fifty-two week low of $41.74 and a fifty-two week high of $62.37.

FB Financial (NYSE:FBK) last released its earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The firm had revenue of $172.71 million for the quarter, compared to analyst estimates of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.85 EPS. Research analysts predict that FB Financial will post 4.71 EPS for the current year.

FB Financial Announces Dividend

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

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

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.