FB Financial Corporation (NYSE:FBK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of FB Financial Corporation (NYSE:FBK) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.20.

Several brokerages have issued reports on FBK. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $63.00 to $65.00 in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th.

FB Financial Price Performance

FBK opened at $51.62 on Wednesday. The company has a 50 day simple moving average of $57.74 and a two-hundred day simple moving average of $56.17. FB Financial has a 1-year low of $38.83 and a 1-year high of $62.37. The firm has a market cap of $2.67 billion, a P/E ratio of 21.51 and a beta of 0.99.

FB Financial (NYSE:FBK) last posted 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 company had revenue of $178.36 million during the quarter, compared to analysts’ expectations of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same period last year, the company posted $0.85 earnings per share. Equities analysts anticipate that FB Financial will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

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

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the transaction, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in FB Financial by 21.6% during 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 buying an additional 47,278 shares during the period. M Holdings Securities Inc. acquired a new stake in FB Financial during the 2nd quarter worth approximately $794,000. Principal Financial Group Inc. boosted its holdings in FB Financial by 18.3% in the third quarter. Principal Financial Group Inc. now owns 202,784 shares of the financial services provider’s stock valued at $11,303,000 after purchasing an additional 31,382 shares during the period. Deprince Race & Zollo Inc. purchased a new stake in shares of FB Financial during the third quarter worth approximately $48,674,000. Finally, 12th Street Asset Management Company LLC raised its holdings in shares of FB Financial by 10.3% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 211,398 shares of the financial services provider’s stock valued at $11,783,000 after purchasing an additional 19,717 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

About FB Financial

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.