FB Financial Corp (NYSE:FBK) Receives $40.88 Average PT from Brokerages

Shares of FB Financial Corp (NYSE:FBK) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $40.88.

FBK has been the topic of several analyst reports. Raymond James cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $38.50 price target on the stock. in a research note on Wednesday, October 23rd. They noted that the move was a valuation call. DA Davidson assumed coverage on shares of FB Financial in a research report on Wednesday, October 9th. They set a “neutral” rating and a $40.00 price objective on the stock. Zacks Investment Research upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. ValuEngine downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, Stephens reiterated a “buy” rating and issued a $42.00 price target on shares of FB Financial in a report on Wednesday, September 18th.

A number of hedge funds and other institutional investors have recently made changes to their positions in FBK. Bank of America Corp DE increased its holdings in FB Financial by 3,218.3% in the 2nd quarter. Bank of America Corp DE now owns 230,256 shares of the financial services provider’s stock valued at $8,427,000 after acquiring an additional 223,317 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of FB Financial by 129.3% in the 2nd quarter. Wells Fargo & Company MN now owns 341,760 shares of the financial services provider’s stock worth $12,508,000 after buying an additional 192,711 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of FB Financial by 23.6% in the 2nd quarter. Janus Henderson Group PLC now owns 970,120 shares of the financial services provider’s stock worth $35,506,000 after buying an additional 185,395 shares during the last quarter. Earnest Partners LLC bought a new stake in shares of FB Financial in the 2nd quarter worth about $4,750,000. Finally, Wasatch Advisors Inc. increased its holdings in shares of FB Financial by 26.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 595,282 shares of the financial services provider’s stock worth $21,787,000 after buying an additional 125,019 shares during the last quarter. Institutional investors own 53.69% of the company’s stock.

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Shares of FB Financial stock traded down $0.14 on Thursday, hitting $38.94. 26,091 shares of the company’s stock were exchanged, compared to its average volume of 59,258. The company has a 50-day simple moving average of $37.65 and a 200-day simple moving average of $36.58. The stock has a market capitalization of $1.20 billion, a PE ratio of 14.92 and a beta of 0.97. FB Financial has a 1 year low of $30.33 and a 1 year high of $39.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 0.91.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.05. The business had revenue of $96.45 million for the quarter, compared to analysts’ expectations of $89.41 million. FB Financial had a net margin of 19.75% and a return on equity of 12.16%. On average, analysts expect that FB Financial will post 2.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.82%. FB Financial’s dividend payout ratio is currently 12.26%.

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 businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

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