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

Shares of FB Financial Corporation (NYSE:FBK) have earned an average rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $64.1667.

Several equities research analysts recently issued reports on FBK shares. Benchmark began coverage on shares of FB Financial in a report on Wednesday, June 24th. They issued a “buy” rating and a $64.00 target price on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a research report on Thursday, April 2nd. Raymond James Financial upped their price objective on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC bought a new stake in FB Financial in the 4th quarter valued at $27,000. Assetmark Inc. bought a new position in shares of FB Financial during the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC purchased a new stake in shares of FB Financial in the fourth quarter valued at $37,000. EverSource Wealth Advisors LLC raised its position in FB Financial by 1,152.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 795 shares during the period. Finally, State of Wyoming purchased a new stake in shares of FB Financial in the first quarter worth approximately $63,000. 65.40% of the stock is currently owned by institutional investors.

FB Financial Stock Performance

Shares of NYSE FBK opened at $56.63 on Tuesday. The company has a market cap of $2.92 billion, a PE ratio of 21.29 and a beta of 0.95. FB Financial has a 52-week low of $45.58 and a 52-week high of $62.37. The firm’s 50 day moving average price is $53.93 and its 200-day moving average price is $55.16.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, meeting the consensus estimate of $1.14. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The business had revenue of $175.95 million for the quarter, compared to the consensus estimate of $177.94 million. On average, analysts forecast that FB Financial will post 4.66 earnings per share for the current fiscal year.

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

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is 31.58%.

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.