Brokerages Set FB Financial Co. (NYSE:FBK) PT at $42.33

FB Financial Co. (NYSE:FBK) has received an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $42.33.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research report on Thursday, June 27th. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods lifted their price objective 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.

FB Financial Trading Down 2.8 %

NYSE:FBK opened at $47.84 on Wednesday. FB Financial has a 1-year low of $27.42 and a 1-year high of $49.97. The firm has a fifty day simple moving average of $45.78 and a 200 day simple moving average of $40.16. The stock has a market capitalization of $2.25 billion, a PE ratio of 20.10 and a beta of 1.13.

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

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FBK. Wasatch Advisors LP raised 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 purchasing an additional 220,835 shares in the last quarter. Dimensional Fund Advisors LP raised 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 purchasing an additional 106,553 shares in the last quarter. Millennium Management LLC raised 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 purchasing an additional 85,620 shares in the last quarter. Salzhauer Michael acquired a new position in FB Financial in the second quarter valued at about $2,596,000. Finally, Heartland Advisors Inc. raised 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 purchasing an additional 57,355 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

About FB Financial

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.