FB Financial Corporation (NYSE:FBK) Receives Average Rating of “Moderate Buy” from Brokerages

FB Financial Corporation (NYSE:FBK) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $61.20.

A number of research firms recently weighed in on FBK. Cantor Fitzgerald restated an “overweight” rating and set a $66.00 price target (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Finally, Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $65.00 in a research report on Friday, January 23rd.

FB Financial Price Performance

Shares of NYSE:FBK opened at $61.64 on Friday. FB Financial has a 1 year low of $38.83 and a 1 year high of $62.37. The firm has a market capitalization of $3.30 billion, a PE ratio of 25.68 and a beta of 1.00. The business’s 50 day moving average price is $58.01 and its 200-day moving average price is $54.95.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The firm had revenue of $178.36 million during the quarter, compared to the consensus estimate of $176.30 million. During the same period in the prior year, the company earned $0.85 EPS. As a group, analysts expect that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is presently 31.67%.

Insider Activity

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the completion of the sale, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FBK. Investors Research Corp acquired a new stake in FB Financial during the third quarter worth $26,000. UMB Bank n.a. increased its position in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in FB Financial in the 3rd quarter valued at about $31,000. Assetmark Inc. purchased a new stake in FB Financial in the 4th quarter valued at about $30,000. Finally, Global Retirement Partners LLC acquired a new position in FB Financial in the fourth quarter valued at about $37,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.