FB Financial Co. (NYSE:FBK) Receives $42.33 Consensus Price Target from Analysts

Shares of FB Financial Co. (NYSE:FBK) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $44.70.

A number of research firms have weighed in on FBK. Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in shares of FB Financial by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $691,000 after buying an additional 300 shares during the period. Texas Permanent School Fund Corp grew its holdings in FB Financial by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 398 shares in the last quarter. SummerHaven Investment Management LLC increased its position in FB Financial by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after purchasing an additional 412 shares during the period. Victory Capital Management Inc. raised its holdings in shares of FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 467 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of FB Financial by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 468 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 1.6 %

FBK opened at $49.18 on Friday. The stock has a 50-day moving average of $46.43 and a 200 day moving average of $41.63. FB Financial has a 12 month low of $27.75 and a 12 month high of $51.40. The firm has a market cap of $2.31 billion, a P/E ratio of 20.66 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. The firm had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter in the previous year, the business earned $0.71 EPS. On average, research analysts forecast that FB Financial will post 3.25 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio is presently 28.57%.

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.