FB Financial Corporation (NYSE:FBK) Given Average Rating of “Buy” by Brokerages

Shares of FB Financial Corporation (NYSE:FBK) have earned an average recommendation of “Buy” from the four brokerages that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $63.00.

FBK has been the topic of several analyst reports. Weiss Ratings raised shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target on the stock in a research report on Thursday.

FB Financial Stock Performance

Shares of FBK opened at $53.34 on Friday. The company has a 50-day simple moving average of $55.46 and a 200-day simple moving average of $55.92. FB Financial has a 52 week low of $38.83 and a 52 week high of $62.37. The firm has a market capitalization of $2.76 billion, a P/E ratio of 22.22 and a beta of 0.98.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. The firm had revenue of $178.36 million for the quarter, compared to the consensus estimate of $176.30 million. During the same quarter in the previous year, the company earned $0.85 earnings per share. As a group, equities analysts forecast that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a $0.21 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 10th. FB Financial’s payout ratio is presently 35.00%.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the transaction, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of FB Financial

A number of hedge funds have recently modified their holdings of the company. Investors Research Corp bought a new position in shares of FB Financial during the 3rd quarter valued at about $26,000. UMB Bank n.a. increased its stake in FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 293 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in FB Financial during the 4th quarter worth approximately $27,000. Assetmark Inc. acquired a new stake in FB Financial during the 4th quarter worth approximately $30,000. Finally, Tripletail Wealth Management LLC bought a new position in FB Financial in the third quarter valued at approximately $31,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

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.