Brokerages Set FB Financial Corporation (NYSE:FBK) Target Price at $61.20

Shares of FB Financial Corporation (NYSE:FBK) have been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $61.75.

FBK has been the subject of several research reports. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $63.00 to $65.00 in a research report on Friday, January 23rd. Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd.

FB Financial Stock Performance

NYSE FBK opened at $51.88 on Friday. The stock’s fifty day moving average is $55.79 and its two-hundred day moving average is $55.96. The firm has a market capitalization of $2.69 billion, a P/E ratio of 21.62 and a beta of 0.99. FB Financial has a fifty-two week low of $38.83 and a fifty-two week high of $62.37.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. The business had revenue of $178.36 million during the quarter, compared to analysts’ expectations of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, sell-side analysts forecast that FB Financial will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th 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, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio (DPR) is 35.00%.

Insider Activity at FB Financial

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC increased its holdings in FB Financial by 2.8% in the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after buying an additional 216 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of FB Financial by 2.7% during the 4th quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 219 shares in the last quarter. Savant Capital LLC boosted its stake in shares of FB Financial by 5.2% during the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after acquiring an additional 245 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of FB Financial by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 278 shares during the period. Finally, TBH Global Asset Management LLC increased its stake in FB Financial by 5.3% in the 4th quarter. TBH Global Asset Management LLC now owns 5,792 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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.