Brokerages Set FB Financial Corporation (NYSE:FBK) Target Price at $61.20

FB Financial Corporation (NYSE:FBK) has received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $61.20.

A number of research analysts have issued reports on FBK shares. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $63.00 to $65.00 in a research note on Friday, January 23rd. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th.

FB Financial Price Performance

NYSE FBK opened at $59.64 on Friday. The company has a fifty day moving average of $58.24 and a 200 day moving average of $55.24. The company has a market capitalization of $3.19 billion, a PE ratio of 24.85 and a beta of 1.00. FB Financial has a 1 year low of $38.83 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The business had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. During the same quarter last year, the business posted $0.85 EPS. Research analysts expect that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is currently 35.00%.

Insider Buying and Selling

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the sale, the insider directly owned 9,484 shares in the company, valued at $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On FB Financial

A number of large investors have recently added to or reduced their stakes in the stock. Investors Research Corp acquired a new stake in shares of FB Financial in the third quarter valued at about $26,000. UMB Bank n.a. lifted its stake in FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after buying an additional 293 shares in the last quarter. Assetmark Inc. acquired a new stake in FB Financial in the 4th quarter worth about $30,000. Tripletail Wealth Management LLC purchased a new stake in FB Financial during the 3rd quarter worth approximately $31,000. Finally, Global Retirement Partners LLC purchased a new stake in FB Financial during the 4th quarter worth approximately $37,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.