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

FB Financial Corporation (NYSE:FBKGet Free Report) has received an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $64.6667.

Several equities research analysts recently issued reports on FBK shares. Benchmark boosted their price target on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Weiss Ratings upgraded FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Raymond James Financial increased their target price on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st.

Get Our Latest Stock Analysis on FBK

Hedge Funds Weigh In On FB Financial

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of FB Financial by 23.8% during the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after acquiring an additional 11,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FB Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after acquiring an additional 930 shares during the last quarter. Millennium Management LLC increased its stake in FB Financial by 11.8% in the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after acquiring an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in FB Financial during the first quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after purchasing an additional 22,662 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

Shares of FB Financial stock opened at $55.44 on Wednesday. The firm has a 50-day moving average of $58.59 and a 200-day moving average of $55.45. The stock has a market cap of $2.77 billion, a PE ratio of 14.86 and a beta of 0.92. FB Financial has a 52-week low of $49.24 and a 52-week high of $62.65.

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

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 annualized dividend and a yield of 1.5%. FB Financial’s dividend payout ratio is currently 22.52%.

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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