FB Financial Corporation (NYSE:FBK) Stock Now Rated “Buy” by Sell-Side Analysts

Shares of FB Financial Corporation (NYSE:FBK) have been given a consensus rating of “Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Six 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 brokerages that have issued ratings on the stock in the last year is $64.67.

FBK has been the subject of a number of recent research reports. Benchmark increased their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings cut shares of FB Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th. Finally, Raymond James Financial increased their price target on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st.

FB Financial Trading Up 0.0%

FBK opened at $52.83 on Friday. The stock’s 50 day simple moving average is $57.83 and its 200-day simple moving average is $55.20. The stock has a market cap of $2.64 billion, a PE ratio of 14.16 and a beta of 0.92. FB Financial has a 1 year low of $49.24 and a 1 year high of $62.65.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting the consensus estimate of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The firm had revenue of $175.94 million during the quarter, compared to analysts’ expectations of $177.45 million. Equities analysts forecast that FB Financial will post 4.67 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 11th. FB Financial’s dividend payout ratio is currently 22.52%.

Hedge Funds Weigh In On FB Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in FB Financial during the second quarter worth $348,592,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of FB Financial by 1,690,485.4% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 28,023 shares in the last quarter. Deprince Race & Zollo Inc. lifted its holdings in FB Financial by 9.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock valued at $53,830,000 after purchasing an additional 89,465 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in FB Financial in the second quarter valued at about $39,460,000. Institutional investors own 65.40% of the company’s stock.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.