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

Shares of FB Financial Corporation (NYSE:FBK) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $64.6667.

A number of analysts have recently commented on FBK shares. Raymond James Financial boosted 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. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Benchmark lifted their target price on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Hovde Group dropped their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of FB Financial in the 2nd quarter valued at $348,592,000. Northwestern Mutual Wealth Management Co. raised its holdings in FB Financial by 1,690,485.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after buying an additional 3,127,398 shares during the period. Wellington Management Group LLP raised its holdings in shares of FB Financial by 171.3% during the fourth quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after acquiring an additional 1,092,126 shares during the period. North Reef Capital Management LP acquired a new stake in shares of FB Financial during the fourth quarter valued at approximately $49,812,000. Finally, Loomis Sayles & Co. L P lifted its position in shares of FB Financial by 220.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock valued at $54,389,000 after acquiring an additional 670,691 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

FB Financial stock opened at $60.88 on Friday. The firm has a 50 day simple moving average of $56.63 and a 200-day simple moving average of $55.49. The stock has a market capitalization of $3.04 billion, a PE ratio of 16.32 and a beta of 0.94. FB Financial has a 12-month low of $46.95 and a 12-month high of $62.44.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting the consensus estimate of $1.14. The firm had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. On average, analysts forecast that FB Financial will post 4.67 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. FB Financial’s payout ratio is currently 22.52%.

FB Financial announced that its board has approved a stock repurchase plan on Monday, April 27th that allows the company to buyback $175.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.