FB Financial Corporation (NYSE:FBK) Receives $61.20 Consensus Target Price from Analysts

Shares of FB Financial Corporation (NYSE:FBK) have earned an average rating of “Buy” from the four brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $63.00.

A number of brokerages have recently commented on FBK. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Thursday. Weiss Ratings upgraded shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd.

Insider Activity at FB Financial

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of FB Financial 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 completion of the sale, the insider owned 9,484 shares of the company’s stock, valued at $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FB Financial

Several large investors have recently added to or reduced their stakes in FBK. Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 21.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 266,327 shares of the financial services provider’s stock worth $14,845,000 after acquiring an additional 47,278 shares during the last quarter. Principal Financial Group Inc. increased its position in FB Financial by 18.3% during the third quarter. Principal Financial Group Inc. now owns 202,784 shares of the financial services provider’s stock worth $11,303,000 after purchasing an additional 31,382 shares during the last quarter. M Holdings Securities Inc. acquired a new position in FB Financial during the second quarter worth approximately $794,000. Deprince Race & Zollo Inc. purchased a new stake in shares of FB Financial during the 3rd quarter valued at $48,674,000. Finally, Dana Investment Advisors Inc. acquired a new stake in shares of FB Financial during the 3rd quarter worth $1,682,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Down 0.1%

FBK opened at $53.34 on Friday. The firm has a market cap of $2.76 billion, a P/E ratio of 22.22 and a beta of 0.98. The business’s fifty day simple moving average is $55.39 and its 200 day simple moving average is $55.95. FB Financial has a 52 week low of $38.83 and a 52 week high of $62.37.

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

FB Financial Increases Dividend

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

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.