Analysts Set FB Financial Corporation (NYSE:FBK) Target Price at $64.67

FB Financial Corporation (NYSE:FBK) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.6667.

Several analysts have recently commented on FBK shares. Raymond James Financial increased their price target on shares of FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Benchmark upped their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th.

FB Financial Price Performance

Shares of FBK stock opened at $53.21 on Friday. The firm’s 50-day moving average is $58.25 and its two-hundred day moving average is $55.21. FB Financial has a 12 month low of $49.24 and a 12 month high of $62.65. The company has a market capitalization of $2.66 billion, a PE ratio of 14.27 and a beta of 0.92.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting the consensus estimate of $1.14. The firm had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. Sell-side analysts forecast that FB Financial will post 4.67 EPS for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, August 11th. FB Financial’s payout ratio is presently 22.52%.

Institutional Investors Weigh In On FB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of FB Financial during the second quarter worth approximately $348,592,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of FB Financial by 1,690,485.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after purchasing an additional 3,127,398 shares during the period. Dimensional Fund Advisors LP lifted its stake in FB Financial by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in FB Financial by 9.4% in the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock valued at $53,830,000 after purchasing an additional 89,465 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in FB Financial during the second quarter worth about $39,460,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.