FB Financial Corporation (NYSE:FBK) Given Consensus Recommendation of “Buy” by Analysts

FB Financial Corporation (NYSE:FBK) has been assigned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $64.00.

A number of research firms have issued reports on FBK. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a research report on Wednesday, April 15th. Hovde Group cut their target price on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Keefe, Bruyette & Woods cut their target price on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company 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 report on Wednesday, April 22nd. Finally, Raymond James Financial upgraded FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective for the company in a report on Tuesday, April 7th.

FB Financial Trading Up 0.1%

Shares of FB Financial stock opened at $54.05 on Friday. The stock has a 50-day moving average price of $53.46 and a 200 day moving average price of $55.44. The company has a market cap of $2.78 billion, a P/E ratio of 20.32 and a beta of 0.95. FB Financial has a 1 year low of $42.29 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The company had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.FB Financial’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, equities analysts forecast that FB Financial will post 4.71 earnings per share for the current fiscal year.

FB Financial announced that its board has authorized a share buyback program on Monday, April 27th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is 31.58%.

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FBK. CIBC Private Wealth Group LLC bought a new position in FB Financial during the fourth quarter valued at approximately $27,000. Assetmark Inc. bought a new position in shares of FB Financial during the 4th quarter valued at $30,000. Global Retirement Partners LLC bought a new position in shares of FB Financial during the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 795 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 557 shares in the last quarter. Institutional investors 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.