FB Financial (NYSE:FBK) Hits New 1-Year High - Here's What Happened

Key Points

• FB Financial Corporation's share price reached a new 52-week high at $59.74, with a last trading price of $59.03 and a trading volume of 13,076 shares.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $58.80, although ratings vary with some analysts upgrading or downgrading the stock recently.
• The company reported a quarterly earnings per share (EPS) of $0.88, missing estimates by $0.01, with expectations to post 3.64 EPS for the current fiscal year.

FB Financial Corporation (NYSE:FBK - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $59.74 and last traded at $59.03, with a volume of 13076 shares. The stock had previously closed at $58.19.

Wall Street Analyst Weigh In

FBK has been the subject of a number of analyst reports. Cantor Fitzgerald started coverage on FB Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $61.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of FB Financial in a research report on Saturday, September 27th. Finally, Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, FB Financial has a consensus rating of "Moderate Buy" and an average price target of $58.80.

FB Financial Price Performance

The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 31.09 and a beta of 0.91. The stock's 50 day simple moving average is $52.26 and its 200-day simple moving average is $47.28.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $136.32 million. As a group, equities research analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, August 12th. FB Financial's payout ratio is 39.38%.

Institutional Trading of FB Financial

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after buying an additional 62,876 shares in the last quarter. Handelsbanken Fonder AB increased its stake in FB Financial by 25.5% in the first quarter. Handelsbanken Fonder AB now owns 6,900 shares of the financial services provider's stock valued at $320,000 after acquiring an additional 1,400 shares during the period. Albert D Mason Inc. raised its position in FB Financial by 1.7% in the first quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after purchasing an additional 398 shares in the last quarter. Blue Trust Inc. bought a new position in FB Financial during the first quarter worth about $211,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in FB Financial by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 19,414 shares of the financial services provider's stock valued at $900,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Company Profile

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.

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