Analysts Set FB Financial Corporation (NYSE:FBK) PT at $60.80

FB Financial Corporation (NYSE:FBK) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $60.80.

A number of research firms recently issued reports on FBK. Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 target price (up previously from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Piper Sandler boosted their target price on shares of FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th.

FB Financial Trading Up 2.6%

Shares of FBK opened at $60.68 on Tuesday. FB Financial has a 12 month low of $38.83 and a 12 month high of $60.73. The company has a market capitalization of $3.24 billion, a PE ratio of 28.36 and a beta of 0.98. The stock’s 50-day moving average price is $56.54 and its two-hundred day moving average price is $53.65.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. The firm had revenue of $175.36 million for the quarter, compared to the consensus estimate of $168.03 million. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. During the same quarter in the previous year, the company earned $0.86 EPS. Equities research analysts predict that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were issued a $0.19 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. FB Financial’s dividend payout ratio is currently 35.51%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC grew its position in FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after buying an additional 11,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of FB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the last quarter. Millennium Management LLC raised its holdings in shares of FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the period. Jones Financial Companies Lllp purchased a new position in FB Financial in the first quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in FB Financial by 39.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after acquiring an additional 22,662 shares during 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.