FB Financial Corporation (NYSE:FBK) Receives $60.80 Consensus Target Price from Brokerages

Shares of FB Financial Corporation (NYSE:FBK) have received an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $60.80.

Several brokerages have recently issued reports on FBK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 target price (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Piper Sandler raised their target price on FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th.

Institutional Trading of FB Financial

A number of institutional investors have recently modified their holdings of the business. Investors Research Corp bought a new stake in FB Financial during the 3rd quarter valued at $26,000. UMB Bank n.a. grew its position in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 293 shares in the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of FB Financial during the 3rd quarter valued at $31,000. Bessemer Group Inc. lifted its holdings in FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 557 shares in the last quarter. Finally, First Horizon Corp bought a new position in FB Financial in the 3rd quarter worth about $45,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Down 1.6%

FBK stock opened at $59.67 on Tuesday. The firm has a market cap of $3.19 billion, a PE ratio of 27.88 and a beta of 0.98. The business has a 50 day moving average of $56.63 and a 200-day moving average of $53.80. FB Financial has a 12-month low of $38.83 and a 12-month high of $60.80.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.76 annualized dividend and a yield of 1.3%. FB Financial’s dividend payout ratio is 35.51%.

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.