FB Financial Corporation (NYSE:FBK) Stock Has Consensus Target Price of $64.43 According to Analysts

Key Points

• Analysts are broadly bullish: All seven covering firms rate FB Financial Buy or Strong Buy, with an average 12-month price target of $64.43. Recent targets range from $64 to $67, though one firm downgraded the stock to Sell.
• Quarterly results were mixed: FB Financial reported earnings of $1.21 per share, matching consensus, while revenue of $175.62 million fell short of estimates of $181.56 million.
• The company declared a quarterly dividend of $0.21 per share, equivalent to an annualized yield of about 1.5%. Director Orrin Ingram also bought 29,081 shares for approximately $1.54 million.

Shares of FB Financial Corporation (NYSE:FBK - Get Free Report) have been given a consensus recommendation of "Buy" by the seven research firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $64.43.

A number of analysts recently weighed in on FBK shares. Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, October 9th. Benchmark raised their target price 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. Keefe, Bruyette & Woods reduced their price target on shares of FB Financial from $65.00 to $64.00 and set an "outperform" rating for the company in a report on Wednesday, October 14th. Truist Financial set a $64.00 price target on shares of FB Financial in a research report on Wednesday, October 14th. Finally, Wall Street Zen downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Saturday.

FB Financial Price Performance

NYSE:FBK opened at $54.23 on Monday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.05 and a beta of 0.97. The business has a 50 day simple moving average of $53.67 and a 200-day simple moving average of $55.31. FB Financial has a 1 year low of $49.24 and a 1 year high of $62.65.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.21. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. The firm had revenue of $175.62 million during the quarter, compared to analyst estimates of $181.56 million. As a group, analysts expect that FB Financial will post 4.65 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's dividend payout ratio is presently 18.67%.

Insiders Place Their Bets

In related news, Director Orrin Ingram, II bought 29,081 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was bought at an average cost of $52.88 per share, for a total transaction of $1,537,803.28. Following the purchase, the director directly owned 124,391 shares of the company's stock, valued at approximately $6,577,796.08. This trade represents a 30.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of FB Financial during the 2nd quarter worth $348,592,000. Bank of America Corp DE acquired a new position in shares of FB Financial during the second quarter worth $39,460,000. Davis Asset Management L.P. purchased a new position in FB Financial in the second quarter valued at $34,275,000. Jupiter Topco LLC purchased a new position in FB Financial in the second quarter valued at $21,338,000. Finally, William Blair Investment Management LLC purchased a new position in FB Financial in the second quarter valued at $20,028,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Company Profile

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. It operates primarily through FirstBank, which provides banking services to individuals, businesses and organizations.

Its offerings include deposit accounts, consumer and commercial loans, mortgage banking, treasury management and wealth management services. FirstBank traces its roots to 1906 and serves customers across Tennessee and other parts of the southeastern United States.

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