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

Key Points

• FB Financial Corporation has received a consensus recommendation of "Buy" from five analysts, with an average target price of $58.80.
• The company recently reported $0.88 earnings per share for the quarter, falling short of the consensus estimate of $0.89.
• FB Financial announced a quarterly dividend of $0.19 per share, reflecting an annualized yield of 1.4%.

Shares of FB Financial Corporation (NYSE:FBK - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $58.80.

FBK has been the topic of several research analyst reports. Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Cantor Fitzgerald assumed coverage on FB Financial in a research note on Wednesday, September 10th. They set an "overweight" rating and a $61.00 price target on the stock. Finally, Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $52.00 to $58.00 in a research note on Friday, July 11th.

FB Financial Stock Performance

FBK stock traded down $0.29 on Wednesday, hitting $52.74. 69,363 shares of the company's stock were exchanged, compared to its average volume of 276,766. FB Financial has a 12-month low of $38.83 and a 12-month high of $58.88. The firm has a 50 day moving average price of $50.25 and a two-hundred day moving average price of $46.47. The stock has a market cap of $2.84 billion, a P/E ratio of 27.33 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The business had revenue of $76.86 million for the quarter, compared to analysts' expectations of $136.32 million. Sell-side analysts expect that FB Financial will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, August 12th. FB Financial's payout ratio is presently 39.38%.

Institutional Trading of FB Financial

Several large investors have recently added to or reduced their stakes in FBK. Nuveen LLC purchased a new stake in FB Financial during the 1st quarter valued at about $39,275,000. Qube Research & Technologies Ltd lifted its holdings in shares of FB Financial by 61.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider's stock valued at $14,295,000 after buying an additional 120,561 shares during the period. Invesco Ltd. lifted its holdings in shares of FB Financial by 93.9% in the 1st quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider's stock valued at $9,463,000 after buying an additional 98,843 shares during the period. Marshall Wace LLP lifted its holdings in shares of FB Financial by 130.8% in the 2nd quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider's stock valued at $6,382,000 after buying an additional 79,841 shares during the period. Finally, State Street Corp lifted its holdings in shares of FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider's stock valued at $73,437,000 after buying an additional 75,951 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.