Analysts Set FB Financial Corporation (NYSE:FBK) Target Price at $58.80

Shares of FB Financial Corporation (NYSE:FBK) have been assigned a consensus recommendation of “Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $58.80.

A number of research firms have commented on FBK. Cantor Fitzgerald began coverage on shares of FB Financial in a research note on Wednesday. They issued an “overweight” rating and a $61.00 price objective on the stock. Wall Street Zen lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Keefe, Bruyette & Woods upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $52.00 to $58.00 in a research note on Friday, July 11th.

FB Financial Stock Performance

Shares of FBK stock opened at $53.04 on Wednesday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 27.48 and a beta of 0.93. The company has a 50 day moving average price of $50.25 and a 200 day moving average price of $46.51. FB Financial has a fifty-two week low of $38.83 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $76.86 million for the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. On average, research analysts forecast that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial’s payout ratio is currently 39.38%.

Institutional Investors Weigh In On FB Financial

A number of large investors have recently added to or reduced their stakes in FBK. Meeder Asset Management Inc. acquired a new stake in FB Financial in the 1st quarter valued at about $33,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $39,000 after acquiring an additional 795 shares during the last quarter. GAMMA Investing LLC grew its stake in FB Financial by 36.7% in the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 370 shares during the last quarter. CWM LLC grew its stake in FB Financial by 58.2% in the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock valued at $77,000 after acquiring an additional 611 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in FB Financial by 7.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 290 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.