FB Financial Corporation (NYSE:FBK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of FB Financial Corporation (NYSE:FBK) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $61.20.

A number of analysts have issued reports on FBK shares. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock 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 research note on Sunday, November 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 target price (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd.

FB Financial Stock Up 1.2%

Shares of NYSE FBK opened at $61.64 on Friday. The business’s 50 day moving average is $58.01 and its two-hundred day moving average is $54.95. FB Financial has a 52-week low of $38.83 and a 52-week high of $62.37. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 25.68 and a beta of 1.00.

FB Financial (NYSE:FBK) last issued 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. The business had revenue of $178.36 million during the quarter, compared to analysts’ expectations of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same period in the previous year, the firm posted $0.85 earnings per share. Analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend 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 presently 31.67%.

Insider Transactions at FB Financial

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of FB Financial stock in a transaction dated 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 transaction, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of FB Financial

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

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.