FB Financial Corporation (NYSE:FBK) Given Average Rating of “Buy” by Brokerages

FB Financial Corporation (NYSE:FBK) has been assigned an average recommendation of “Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $64.25.

A number of analysts have recently commented on FBK shares. Keefe, Bruyette & Woods cut their price target on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 price target on FB Financial in a research note on Wednesday, April 15th. Weiss Ratings downgraded FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, April 7th. Piper Sandler upgraded 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. Finally, Raymond James Financial upgraded 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.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently made changes to their positions in FBK. AQR Capital Management LLC raised its position in shares of FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after acquiring an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after acquiring an additional 930 shares during the last quarter. Millennium Management LLC raised its position in shares of FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after acquiring an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of FB Financial during the first quarter worth about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after acquiring an additional 22,662 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Down 0.6%

Shares of FBK stock opened at $53.32 on Thursday. The business’s 50-day moving average price is $54.13 and its 200-day moving average price is $55.89. FB Financial has a 12 month low of $41.66 and a 12 month high of $62.37. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 20.05 and a beta of 0.98.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 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 firm had revenue of $172.71 million for the quarter, compared to analyst estimates of $175.45 million. During the same period in the previous year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, sell-side analysts predict that FB Financial will post 4.71 earnings per share for the current fiscal 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 12th. FB Financial’s dividend payout ratio (DPR) is 31.58%.

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.