Brokerages Set FB Financial Co. (NYSE:FBK) PT at $42.33

Shares of FB Financial Co. (NYSE:FBK) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $42.33.

A number of research analysts have recently commented on the stock. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered their price objective on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods increased their target price on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FBK. Wasatch Advisors LP grew its stake in shares of FB Financial by 26.3% in the fourth quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after buying an additional 220,835 shares in the last quarter. Dimensional Fund Advisors LP grew its position in FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after acquiring an additional 106,553 shares in the last quarter. Millennium Management LLC raised its stake in shares of FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after purchasing an additional 85,620 shares during the period. Salzhauer Michael purchased a new position in shares of FB Financial in the second quarter valued at $2,596,000. Finally, Heartland Advisors Inc. grew its holdings in FB Financial by 22.0% during the 1st quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock valued at $11,999,000 after purchasing an additional 57,355 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Price Performance

NYSE:FBK opened at $46.94 on Wednesday. FB Financial has a 1-year low of $27.42 and a 1-year high of $49.97. The firm has a 50 day simple moving average of $45.88 and a 200-day simple moving average of $40.31. The firm has a market cap of $2.21 billion, a PE ratio of 19.72 and a beta of 1.13.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $128.22 million for the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. As a group, sell-side analysts expect that FB Financial will post 3.25 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a $0.17 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a yield of 1.45%. FB Financial’s dividend payout ratio is currently 28.57%.

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.