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

FB Financial Corporation (NYSE:FBK) has received a consensus rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $64.00.

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

Institutional Investors Weigh In On FB Financial

Several large investors have recently modified their holdings of FBK. Northwestern Mutual Wealth Management Co. raised 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 during the period. Wellington Management Group LLP boosted its position in shares of FB Financial by 171.3% in 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 purchasing an additional 1,092,126 shares during the period. North Reef Capital Management LP purchased a new position in FB Financial in the 4th quarter worth about $49,812,000. Loomis Sayles & Co. L P increased its stake in FB Financial by 220.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock worth $54,389,000 after purchasing an additional 670,691 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in FB Financial during the 4th quarter worth about $26,963,000. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

FBK opened at $53.79 on Friday. The business has a 50 day moving average price of $53.52 and a two-hundred day moving average price of $55.38. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 20.22 and a beta of 0.95. FB Financial has a 1-year low of $42.72 and a 1-year high of $62.37.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. Equities analysts expect that FB Financial will post 4.71 EPS for the current fiscal year.

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

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. FB Financial’s dividend payout ratio is currently 31.58%.

About FB Financial

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.