FB Financial Corporation (NYSE:FBK) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of FB Financial Corporation (NYSE:FBKGet Free Report) have earned an average recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $64.6667.

FBK has been the subject of several recent analyst reports. Hovde Group decreased their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Raymond James Financial upped their price target on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “buy (b-)” rating on shares of FB Financial in a research report on Monday, July 20th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th.

Read Our Latest Stock Report on FBK

Institutional Investors Weigh In On FB Financial

A number of institutional investors have recently modified their holdings of FBK. Northwestern Mutual Wealth Management Co. grew its holdings in shares of FB Financial by 1,690,485.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after acquiring an additional 3,127,398 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of FB Financial by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock worth $168,417,000 after acquiring an additional 60,430 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FB Financial by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock worth $112,592,000 after acquiring an additional 109,318 shares in the last quarter. Wellington Management Group LLP boosted its position in FB Financial by 171.3% during the fourth 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 last quarter. Finally, State Street Corp grew its stake in FB Financial by 4.9% in the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after purchasing an additional 75,951 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Performance

FB Financial stock opened at $60.34 on Friday. FB Financial has a 52 week low of $46.95 and a 52 week high of $62.37. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 16.18 and a beta of 0.95. The company has a 50 day moving average price of $55.80 and a 200 day moving average price of $55.41.

FB Financial (NYSE:FBKGet Free Report) last announced its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.14. The company had revenue of $175.94 million for the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. Equities analysts forecast that FB Financial will post 4.67 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, August 11th. FB Financial’s dividend payout ratio is currently 22.52%.

FB Financial declared that its board has authorized 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 buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

FB Financial Company Profile

(Get Free Report)

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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Analyst Recommendations for FB Financial (NYSE:FBK)

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