FB Financial Corporation (NYSE:FBK – Get Free Report) has received an average rating of “Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $64.00.
A number of research analysts recently weighed in on the stock. Hovde Group cut their target price on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods cut their target price on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 15th. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a report on Wednesday, April 15th. Finally, Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd.
Institutional Trading of FB Financial
FB Financial Stock Performance
FBK stock opened at $51.29 on Monday. The firm has a fifty day moving average price of $52.97 and a 200 day moving average price of $55.61. 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 $2.64 billion, a PE ratio of 19.28 and a beta of 0.97.
FB Financial (NYSE:FBK – Get Free Report) last posted its earnings results 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 business had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. During the same period last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. On average, equities analysts predict that FB Financial will post 4.71 EPS for the current year.
FB Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be given a $0.21 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is currently 31.58%.
FB Financial announced that its Board of Directors has initiated a share repurchase program on Monday, April 27th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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.
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