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

FB Financial Corporation (NYSE:FBK) has earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $64.00.

A number of analysts have recently issued reports on FBK shares. Hovde Group decreased their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. Cantor Fitzgerald set a $65.00 target price on FB Financial in a 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 target price for the company in a report on Tuesday, April 7th.

FB Financial Stock Performance

Shares of NYSE:FBK opened at $52.73 on Monday. FB Financial has a 1 year low of $42.29 and a 1 year high of $62.37. The stock has a market capitalization of $2.72 billion, a P/E ratio of 19.82 and a beta of 0.97. The stock has a 50-day simple moving average of $53.01 and a 200-day simple moving average of $55.54.

FB Financial (NYSE:FBK) last issued its 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). FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The firm had revenue of $172.71 million for the quarter, compared to analysts’ expectations of $175.45 million. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. Analysts predict that FB Financial will post 4.71 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s payout ratio is 31.58%.

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

Hedge Funds Weigh In On FB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FBK. AQR Capital Management LLC lifted its position in FB Financial by 23.8% during the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after acquiring an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 acquiring an additional 930 shares in the last quarter. Millennium Management LLC lifted its position in FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after acquiring an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in FB Financial during the 1st quarter worth approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FB Financial by 39.4% during 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 in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

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.