FB Financial Corporation (NYSE:FBK) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• FB Financial received a consensus “Buy” rating from seven analysts, with six buy ratings and one strong-buy rating. The average 12-month price target is $64.67, above the reported share price of $57.31.
• Institutional investors and hedge funds own 65.4% of FB Financial’s shares, with several firms recently initiating or increasing positions.
• The company matched quarterly earnings expectations at $1.14 per share, while reporting $175.94 million in revenue. FB Financial also declared a quarterly dividend of $0.21 per share, equivalent to an annualized yield of about 1.5%.

Shares of FB Financial Corporation (NYSE:FBK - Get Free Report) have been given a consensus rating of "Buy" by the seven ratings firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $64.6667.

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

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC purchased a new position in FB Financial in the 4th quarter worth $27,000. Global Retirement Partners LLC purchased a new stake in FB Financial during the 4th quarter valued at about $37,000. Nykredit A S purchased a new stake in FB Financial during the 2nd quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its holdings in shares of FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 795 shares during the period. Finally, State of Wyoming acquired a new position in shares of FB Financial in the first quarter valued at about $63,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Down 1.6%

Shares of FBK opened at $57.31 on Wednesday. The firm has a market cap of $2.86 billion, a PE ratio of 15.37 and a beta of 0.94. FB Financial has a 12 month low of $49.24 and a 12 month high of $62.65. The stock has a fifty day moving average price of $58.26 and a 200-day moving average price of $55.58.

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

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's dividend payout ratio (DPR) is currently 22.52%.

FB Financial Company Profile

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.

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