FB Financial Corporation (NYSE:FBK) Receives Average Rating of “Buy” from Analysts

Shares of FB Financial Corporation (NYSE:FBK) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $64.1667.

FBK has been the topic of several recent research reports. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods decreased their price objective on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 price objective on FB Financial in a research report on Wednesday, April 15th. Raymond James Financial lifted their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Benchmark assumed coverage on shares of FB Financial in a research report on Wednesday, June 24th. They set a “buy” rating and a $64.00 price target for the company.

Hedge Funds Weigh In On FB Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of FB Financial by 1,690,485.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after purchasing an additional 3,127,398 shares in the last quarter. Wellington Management Group LLP increased its position in FB Financial by 171.3% during the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after buying an additional 1,092,126 shares in the last quarter. North Reef Capital Management LP acquired a new position in FB Financial during the 4th quarter valued at about $49,812,000. Loomis Sayles & Co. L P raised its stake in FB Financial by 220.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock valued at $54,389,000 after buying an additional 670,691 shares during the last quarter. Finally, William Blair Investment Management LLC purchased a new stake in FB Financial in the fourth quarter valued at about $26,963,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Price Performance

Shares of NYSE:FBK traded up $0.20 during trading hours on Tuesday, hitting $56.88. The company’s stock had a trading volume of 43,612 shares, compared to its average volume of 316,185. FB Financial has a 52 week low of $45.58 and a 52 week high of $62.37. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 21.38 and a beta of 0.95. The firm’s fifty day moving average price is $53.70 and its 200 day moving average price is $55.18.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The business had revenue of $172.71 million for the quarter, compared to the consensus estimate of $175.45 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. FB Financial’s revenue for the quarter was up 31.8% on a year-over-year basis. On average, equities research analysts predict that FB Financial will post 4.66 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 12th. FB Financial’s payout ratio is 31.58%.

FB Financial announced that its board has approved a share buyback plan on Monday, April 27th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

FB Financial Company Profile

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.