FB Financial Corporation (NYSE:FBK) Receives Consensus Recommendation 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 given an average recommendation of "Buy" by the five ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $58.80.

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

FB Financial Trading Up 0.6%

FBK traded up $0.33 on Wednesday, reaching $53.22. The stock had a trading volume of 17,110 shares, compared to its average volume of 277,908. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.58 and a beta of 0.93. The firm has a 50-day moving average of $49.90 and a 200-day moving average of $46.41. FB Financial has a fifty-two week low of $38.83 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly 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 net margin of 11.46% and a return on equity of 10.15%. The company had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. Sell-side analysts anticipate that FB Financial will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is currently 39.38%.

Hedge Funds Weigh In On FB Financial

A number of institutional investors and hedge funds have recently modified their holdings of FBK. Nuveen LLC purchased a new position in shares of FB Financial during the first quarter valued at approximately $39,275,000. Qube Research & Technologies Ltd raised its stake in FB Financial by 61.8% in the second quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider's stock worth $14,295,000 after buying an additional 120,561 shares in the last quarter. Invesco Ltd. increased its position in shares of FB Financial by 93.9% during the first quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider's stock worth $9,463,000 after purchasing an additional 98,843 shares in the last quarter. Marshall Wace LLP increased its position in shares of FB Financial by 130.8% during the second quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider's stock worth $6,382,000 after purchasing an additional 79,841 shares in the last quarter. Finally, State Street Corp increased its position in shares of FB Financial by 4.9% during the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider's stock worth $73,437,000 after purchasing an additional 75,951 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.