FB Financial (NYSE:FBK) Sets New 12-Month High – Still a Buy?

Shares of FB Financial Corporation (NYSE:FBK) hit a new 52-week high during trading on Friday. The company traded as high as $68.00 and last traded at $53.1150, with a volume of 525 shares trading hands. The stock had previously closed at $52.81.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FBK. 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 research report on Wednesday, July 1st. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Finally, Benchmark upped their target price on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $64.67.

FB Financial Stock Up 0.6%

The firm has a market capitalization of $2.66 billion, a PE ratio of 14.25 and a beta of 0.92. The firm’s 50 day moving average price is $57.97 and its two-hundred day moving average price is $55.22.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The firm had revenue of $175.94 million for the quarter, compared to the consensus estimate of $177.45 million. On average, sell-side analysts anticipate that FB Financial Corporation will post 4.67 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is currently 22.52%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FBK. Corient Private Wealth LP purchased a new position in FB Financial in the second quarter valued at about $1,202,000. Dimensional Fund Advisors LP increased its holdings in FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock worth $103,905,000 after purchasing an additional 28,023 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in FB Financial during the 2nd quarter worth approximately $20,028,000. BlackRock Inc. acquired a new position in shares of FB Financial in the 2nd quarter valued at approximately $348,592,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of FB Financial by 1,690,485.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after purchasing an additional 3,127,398 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.