FB Financial Corporation (NYSE:FBK) Receives $61.20 Average PT from Brokerages

FB Financial Corporation (NYSE:FBK) has been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $61.20.

A number of analysts recently weighed in on FBK shares. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Finally, Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $65.00 in a research report on Friday, January 23rd.

FB Financial Price Performance

Shares of FBK opened at $51.55 on Wednesday. FB Financial has a 1 year low of $38.83 and a 1 year high of $62.37. The stock’s fifty day moving average price is $57.95 and its two-hundred day moving average price is $56.10. The firm has a market cap of $2.67 billion, a PE ratio of 21.48 and a beta of 0.99.

FB Financial (NYSE:FBK) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $176.30 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. Sell-side analysts anticipate that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is presently 35.00%.

Insider Buying and Selling

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the transaction, the insider owned 9,484 shares of the company’s stock, valued at $569,609.04. This represents a 47.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC grew its position in FB Financial by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 216 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of FB Financial by 2.7% in the 4th quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 219 shares during the last quarter. Savant Capital LLC boosted its stake in shares of FB Financial by 5.2% in the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 245 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of FB Financial by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 278 shares in the last quarter. Finally, TBH Global Asset Management LLC grew its holdings in shares of FB Financial by 5.3% during the 4th quarter. TBH Global Asset Management LLC now owns 5,792 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 292 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

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.