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

FB Financial Corporation (NYSE:FBKGet 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.

Get Our Latest Report on FBK

Institutional Trading of FB Financial

A number of institutional investors have recently bought and sold shares of FBK. Principal Financial Group Inc. lifted its position in shares of 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 purchasing an additional 31,382 shares during the last quarter. Strs Ohio raised its holdings in shares of FB Financial by 9,775.0% in the third quarter. Strs Ohio now owns 118,500 shares of the financial services provider’s stock valued at $6,605,000 after acquiring an additional 117,300 shares in the last quarter. Certuity LLC raised its holdings in shares of FB Financial by 1,205.7% in the third quarter. Certuity LLC now owns 268,039 shares of the financial services provider’s stock valued at $14,940,000 after acquiring an additional 247,511 shares in the last quarter. Leeward Investments LLC MA bought a new position in FB Financial in the third quarter worth about $20,680,000. Finally, Dana Investment Advisors Inc. bought a new position in FB Financial in the third quarter worth about $1,682,000. 65.40% of the stock is currently owned by institutional investors.

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:FBKGet 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

(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.

Featured Stories

Analyst Recommendations for FB Financial (NYSE:FBK)

Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.