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

FB Financial Corporation (NYSE:FBK) has been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $64.00.

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald set a $65.00 price target on shares of FB Financial in a research report on Wednesday, April 15th. Hovde Group dropped their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Weiss Ratings upgraded shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. Raymond James Financial upgraded shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Tuesday, April 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Leeward Investments LLC MA bought a new position in FB Financial in the 3rd quarter worth approximately $20,680,000. Principal Financial Group Inc. increased its position in FB Financial by 18.3% during the third quarter. Principal Financial Group Inc. now owns 202,784 shares of the financial services provider’s stock worth $11,303,000 after acquiring an additional 31,382 shares during the period. Certuity LLC increased its position in FB Financial by 1,205.7% during the third quarter. Certuity LLC now owns 268,039 shares of the financial services provider’s stock worth $14,940,000 after acquiring an additional 247,511 shares during the period. Dana Investment Advisors Inc. bought a new position in FB Financial during the third quarter worth $1,682,000. Finally, Banc Funds Co. LLC bought a new position in FB Financial during the third quarter worth $9,949,000. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

NYSE FBK opened at $54.05 on Friday. The stock’s 50-day moving average is $53.46 and its two-hundred day moving average is $55.44. FB Financial has a fifty-two week low of $42.29 and a fifty-two week high of $62.37. The firm has a market cap of $2.78 billion, a P/E ratio of 20.32 and a beta of 0.95.

FB Financial (NYSE:FBK) last issued its quarterly earnings data 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). FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The company had revenue of $172.71 million during the quarter, compared to the consensus estimate of $175.45 million. During the same period in the previous year, the business posted $0.85 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. On average, equities analysts expect that FB Financial will post 4.71 EPS for the current year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a $0.21 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. FB Financial’s payout ratio is presently 31.58%.

FB Financial declared that its board has approved a share repurchase program on Monday, April 27th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board 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.