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

Shares of FB Financial Corporation (NYSE:FBK) have been given an average rating of “Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $64.1667.

Several brokerages have commented on FBK. Keefe, Bruyette & Woods cut their price objective on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a research note on Wednesday, April 15th. Raymond James Financial upped their price target on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Hovde Group reduced their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th.

FB Financial Stock Performance

NYSE FBK traded up $0.20 during trading on Tuesday, hitting $56.88. The stock had a trading volume of 43,612 shares, compared to its average volume of 316,185. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 21.38 and a beta of 0.95. FB Financial has a one year low of $45.58 and a one year high of $62.37. The stock has a 50 day simple moving average of $53.70 and a 200 day simple moving average of $55.18.

FB Financial (NYSE:FBK) last released its earnings results on Monday, April 13th. The financial services provider reported $1.12 EPS 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 for the quarter, compared to the consensus estimate of $175.45 million. During the same period in the prior year, the company posted $0.85 EPS. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, sell-side analysts predict that FB Financial will post 4.66 EPS for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, May 12th. FB Financial’s dividend payout ratio is currently 31.58%.

FB Financial declared that its Board of Directors has approved a share buyback program on Monday, April 27th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of FB Financial

Several institutional investors and hedge funds have recently modified their holdings of FBK. Northwestern Mutual Wealth Management Co. grew its stake in FB Financial by 1,690,485.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after purchasing an additional 3,127,398 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of FB Financial by 171.3% in the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock worth $96,513,000 after buying an additional 1,092,126 shares during the period. North Reef Capital Management LP purchased a new stake in shares of FB Financial in the 4th quarter worth $49,812,000. Loomis Sayles & Co. L P grew its position in shares of FB Financial by 220.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock worth $54,389,000 after buying an additional 670,691 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of FB Financial during the 4th quarter worth $26,963,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Company Profile

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.