Zacks: Brokerages Expect FB Financial Corp (FBK) Will Post Quarterly Sales of $81.29 Million

Wall Street brokerages expect that FB Financial Corp (NYSE:FBK) will report $81.29 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for FB Financial’s earnings. The lowest sales estimate is $80.87 million and the highest is $81.70 million. FB Financial posted sales of $61.34 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.5%. The business is expected to announce its next earnings report on Monday, April 23rd.

On average, analysts expect that FB Financial will report full year sales of $81.29 million for the current year, with estimates ranging from $345.50 million to $347.07 million. For the next financial year, analysts expect that the business will report sales of $362.27 million per share, with estimates ranging from $359.10 million to $365.44 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for FB Financial.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. The business had revenue of $86.00 million for the quarter, compared to the consensus estimate of $79.79 million. FB Financial had a net margin of 16.84% and a return on equity of 12.72%.

Several brokerages have recently issued reports on FBK. Zacks Investment Research downgraded shares of FB Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Raymond James Financial began coverage on shares of FB Financial in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $41.00 price objective on the stock. UBS Group raised their price objective on shares of FB Financial from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $42.00 price objective on shares of FB Financial in a research note on Thursday, October 26th. Finally, ValuEngine downgraded shares of FB Financial from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $42.33.

Shares of FB Financial (NYSE FBK) opened at $43.19 on Wednesday. The stock has a market cap of $1,320.00 and a price-to-earnings ratio of 23.60. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.83. FB Financial has a 52 week low of $23.71 and a 52 week high of $45.43.

Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc lifted its position in FB Financial by 70.9% in the third quarter. Legal & General Group Plc now owns 3,195 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,326 shares during the period. Delta Asset Management LLC TN lifted its position in FB Financial by 1,000.0% in the fourth quarter. Delta Asset Management LLC TN now owns 3,300 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 3,000 shares during the period. Nationwide Fund Advisors lifted its position in FB Financial by 78.1% in the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,732 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in FB Financial in the third quarter worth $202,000. Finally, Rhumbline Advisers bought a new position in FB Financial in the second quarter worth $254,000. 35.34% of the stock is owned by hedge funds and other institutional investors.

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About FB Financial

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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