Analysts Set FB Financial Co. (NYSE:FBK) Price Target at $42.33

FB Financial Co. (NYSE:FBK) has been assigned a consensus rating of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $42.33.

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

A number of hedge funds have recently bought and sold shares of FBK. Wasatch Advisors LP raised its holdings in shares of FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after acquiring an additional 139,395 shares during the period. Dimensional Fund Advisors LP grew its position in FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares in the last quarter. Millennium Management LLC raised its stake in FB Financial by 259.9% during the 2nd 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 stake in shares of FB Financial in the second quarter valued at $2,596,000. Finally, Heartland Advisors Inc. boosted its position in shares of FB Financial by 22.0% in the first quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after buying an additional 57,355 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Performance

Shares of FBK opened at $47.91 on Friday. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 20.13 and a beta of 1.13. The stock’s fifty day moving average is $46.02 and its 200-day moving average is $41.39. FB Financial has a one year low of $27.61 and a one year high of $49.97.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $128.22 million for the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. Analysts forecast that FB Financial will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Tuesday, August 6th. FB Financial’s dividend payout ratio (DPR) 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.