FB Financial Co. (NYSE:FBK) Given Average Rating of “Hold” by Brokerages

FB Financial Co. (NYSE:FBK) has earned a consensus rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.33.

Several research firms have recently weighed in on FBK. Stephens restated an “overweight” rating and set a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. 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. Finally, Keefe, Bruyette & Woods boosted their price target on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th.

Hedge Funds Weigh In On FB Financial

Several institutional investors have recently added to or reduced their stakes in FBK. Wasatch Advisors LP lifted its stake in 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 during the period. Dimensional Fund Advisors LP lifted its stake 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 buying an additional 106,553 shares during the period. Millennium Management LLC lifted its stake in FB Financial by 259.9% in the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after buying an additional 85,620 shares during the period. Salzhauer Michael acquired a new position in FB Financial in the second quarter valued at approximately $2,596,000. Finally, Heartland Advisors Inc. lifted its stake in FB Financial by 22.0% in the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock valued at $11,999,000 after buying an additional 57,355 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Trading Down 2.8 %

Shares of NYSE FBK opened at $47.84 on Wednesday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 20.10 and a beta of 1.13. FB Financial has a 12 month low of $27.42 and a 12 month high of $49.97. The stock has a 50-day moving average price of $45.78 and a two-hundred day moving average price of $40.16.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $128.22 million during the quarter, compared to the consensus estimate of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. On average, sell-side analysts predict that FB Financial will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, August 6th. FB Financial’s 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.