FB Financial Co. (NYSE:FBK) – Research analysts at Truist Financial raised their third-quarter 2022 earnings per share (EPS) estimates for FB Financial shares in a report released Tuesday, January 18. Truist Financial analyst J. Demba now expects the financial services provider to post earnings of $0.84 per share for the quarter, up from its previous estimate of $0.82 . Truist Financial currently has a “Buy” rating and a price target of $52.00 on the stock. Truist Financial also released estimates for FB Financial Q4 2022 earnings at $0.88 EPS, Q1 2023 earnings at $0.78 EPS, Q2 2023 earnings at $0.91 EPS, Q3 2023 earnings at $0.98 EPS, Q4 2023 earnings at $0.98 EPS, and FY2023 earnings at $3.65 EPS.
Several other equity research analysts also commented on FBK. Stephens raised his price target on FB Financial from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday. Zacks Investment Research downgraded FB Financial from a “buy” rating to a “hold” rating in a research note on Friday. One financial analyst gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average buy rating and an average price target of $49.40.
NYSE:FBK opened at $42.67 on Thursday. The company has a market capitalization of $2.04 billion, a price-earnings ratio of 10.78 and a beta of 1.14. FB Financial has a 1-year low of $34.99 and a 1-year high of $49.62. The company has a fifty-day moving average price of $44.48 and a 200-day moving average price of $42.27. FB Financial (NYSE:FBK) last released quarterly earnings data on Tuesday, January 18. The financial services provider reported EPS of $1.02 for the quarter, beating the consensus estimate of $0.80 by $0.22. FB Financial had a return on equity of 13.04% and a net margin of 31.03%. During the same period last year, the company posted earnings per share of $1.14.
The company also recently declared a quarterly dividend, which was paid on Monday, November 22. Shareholders of record on Monday, November 8 received a dividend of $0.11. The ex-dividend date was Friday, November 5. This represents a dividend of $0.44 on an annualized basis and a yield of 1.03%. FB Financial’s payout ratio is currently 11.11%.
A number of hedge funds have recently changed their holdings in the company. Voya Investment Management LLC increased its stake in FB Financial by 2.7% in the third quarter. Voya Investment Management LLC now owns 13,466 shares of the financial services provider worth $577,000 after buying 358 additional shares last quarter. Phocas Financial Corp. increased its stake in FB Financial by 0.5% in the third quarter. Phocas Financial Corp. now owns 80,371 shares of the financial services provider worth $3,446,000 after buying an additional 385 shares last quarter. 1492 Capital Management LLC increased its equity stake in FB Financial by 1.3% in Q3. 1492 Capital Management LLC now owns 37,525 shares of the financial services provider valued at $1,609,000 after buying an additional 474 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings of FB Financial shares by 30.1% in Q2. Advisor Group Holdings Inc. now owns 2,111 shares of the financial services provider worth $79,000 after buying 489 additional shares in the last quarter. Finally, Signaturefd LLC increased its stake in FB Financial shares by 221.2% during the third quarter. Signaturefd LLC now owns 787 shares of the financial services provider valued at $34,000 after purchasing an additional 542 shares in the last quarter. Institutional investors and hedge funds hold 64.17% of the company’s shares.
FB Financial Company Profile
FB Financial Corp. is a bank holding company that provides commercial and consumer banking services to customers in certain markets, primarily in Tennessee, northern Alabama and northern Georgia through its subsidiary. It operates through banking and mortgage segments. The banking segments deal with loan and investment interest, loan related fees, bank imprint arrangements, investment services and deposit related fees.
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