FB Financial Corporation (NYSE:FBK) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analysts rate FB Financial “Buy” on average: All seven covering analysts are bullish, with six buy ratings and one strong-buy rating. The average 12-month price target is $64.67, above the reported share price of $53.39.
• Institutional ownership is substantial: Institutional investors and hedge funds own 65.4% of FBK, with major positions or recent purchases by BlackRock, Northwestern Mutual, Dimensional Fund Advisors and Bank of America.
• Quarterly results met expectations and shareholders received a dividend: FB Financial reported earnings of $1.14 per share, matching estimates, alongside $175.94 million in revenue. Its quarterly dividend of $0.21 per share equates to an annualized yield of approximately 1.6%.

Shares of FB Financial Corporation (NYSE:FBK - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $64.6667.

A number of brokerages recently weighed in on FBK. Benchmark boosted their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of FB Financial in a research note on Tuesday, July 14th. Finally, Raymond James Financial increased their price target on FB Financial from $62.00 to $63.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, July 1st.

Institutional Investors Weigh In On FB Financial

Several large investors have recently added to or reduced their stakes in FBK. BlackRock Inc. bought a new stake in FB Financial in the second quarter valued at $348,592,000. Northwestern Mutual Wealth Management Co. grew its position in shares of FB Financial by 1,690,485.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider's stock worth $174,519,000 after acquiring an additional 3,127,398 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in FB Financial by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider's stock valued at $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Deprince Race & Zollo Inc. lifted its position in FB Financial by 9.4% in the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider's stock valued at $53,830,000 after purchasing an additional 89,465 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in FB Financial in the 2nd quarter valued at about $39,460,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Price Performance

Shares of FBK opened at $53.39 on Friday. The stock has a market capitalization of $2.67 billion, a PE ratio of 14.31 and a beta of 0.92. The business's fifty day moving average price is $58.41 and its 200 day moving average price is $55.22. FB Financial has a 12-month low of $49.24 and a 12-month high of $62.65.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting the consensus estimate of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The firm had revenue of $175.94 million during the quarter, compared to analyst estimates of $177.45 million. As a group, research analysts anticipate that FB Financial will post 4.67 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. FB Financial's payout ratio is currently 22.52%.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.

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