FB Financial Corporation (NYSE:FBK) Receives Average Rating of "Buy" from Analysts

Key Points

• Analysts remain bullish on FB Financial: Seven firms rate the stock a “Buy” or “Strong Buy,” with an average 12-month price target of $64.67 versus its reported price of $60.34.
• The company’s latest quarterly results met expectations with EPS of $1.14, while revenue of $175.94 million came in slightly below estimates. Analysts forecast full-year earnings of approximately $4.67 per share.
• FB Financial announced a quarterly dividend of $0.21 per share, implying a 1.4% yield, and authorized a $175 million share-repurchase program covering up to 6.3% of outstanding shares.

FB Financial Corporation (NYSE:FBK - Get Free Report) has been given an average rating of "Buy" by the seven research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $64.6667.

A number of research firms recently commented on FBK. Weiss Ratings reiterated a "buy (b-)" rating on shares of FB Financial in a report on Monday, July 20th. Raymond James Financial raised their target price on shares of FB Financial from $62.00 to $63.00 and gave the stock a "strong-buy" rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods restated an "outperform" rating on shares of FB Financial in a research report on Tuesday, July 14th. Benchmark upped their price target on FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Finally, Hovde Group cut their price objective on FB Financial from $66.00 to $63.00 and set an "outperform" rating for the company in a research report on Monday, April 27th.

FB Financial Price Performance

FB Financial stock opened at $60.34 on Friday. The firm has a 50 day simple moving average of $55.80 and a 200-day simple moving average of $55.41. The stock has a market capitalization of $3.11 billion, a PE ratio of 16.18 and a beta of 0.95. FB Financial has a 12-month low of $46.95 and a 12-month high of $62.37.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, meeting analysts' consensus estimates of $1.14. The business had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. On average, analysts forecast that FB Financial will post 4.67 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial's payout ratio is 22.52%.

FB Financial announced that its Board of Directors has initiated a share repurchase program on Monday, April 27th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On FB Financial

Several hedge funds have recently modified their holdings of FBK. CIBC Private Wealth Group LLC purchased a new position in FB Financial in the 4th quarter worth about $27,000. Assetmark Inc. acquired a new stake in FB Financial during the 4th quarter worth about $30,000. Global Retirement Partners LLC purchased a new stake in FB Financial during the fourth quarter valued at about $37,000. EverSource Wealth Advisors LLC lifted its stake in FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock valued at $39,000 after buying an additional 795 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of FB Financial in the first quarter worth about $63,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.