Fintel reports that on April 16, 2024, Hovde Group upgraded their outlook for FB Financial (NYSE:FBK) from Market Perform to Outperform.
Analyst Price Forecast Suggests 13.15% Upside
As of March 31, 2024, the average one-year price target for FB Financial is 40.90. The forecasts range from a low of 38.38 to a high of $45.68. The average price target represents an increase of 13.15% from its latest reported closing price of 36.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for FB Financial is 617MM, an increase of 35.56%. The projected annual non-GAAP EPS is 3.76.
FB Financial Declares $0.17 Dividend
On January 31, 2024 the company declared a regular quarterly dividend of $0.17 per share ($0.68 annualized). Shareholders of record as of February 13, 2024 received the payment on February 27, 2024. Previously, the company paid $0.15 per share.
At the current share price of $36.15 / share, the stock's dividend yield is 1.88%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.30%, the lowest has been 0.80%, and the highest has been 2.37%. The standard deviation of yields is 0.38 (n=233).
The current dividend yield is 1.54 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.36%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 446 funds or institutions reporting positions in FB Financial. This is an increase of 9 owner(s) or 2.06% in the last quarter. Average portfolio weight of all funds dedicated to FBK is 0.13%, an increase of 34.68%. Total shares owned by institutions increased in the last three months by 3.49% to 35,311K shares. 
The put/call ratio of FBK is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,727K shares representing 10.08% ownership of the company. In it's prior filing, the firm reported owning 4,665K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in FBK by 30.94% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,359K shares representing 5.03% ownership of the company. In it's prior filing, the firm reported owning 2,371K shares, representing a decrease of 0.50%. The firm increased its portfolio allocation in FBK by 20.92% over the last quarter.
PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,520K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 1,523K shares, representing a decrease of 0.20%. The firm increased its portfolio allocation in FBK by 27.94% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,116K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 1,119K shares, representing a decrease of 0.27%. The firm increased its portfolio allocation in FBK by 25.23% over the last quarter.
Janus Henderson Group holds 1,104K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 1,056K shares, representing an increase of 4.33%. The firm decreased its portfolio allocation in FBK by 56.21% over the last quarter.
FB Financial Background Information
(This description is provided by the company.)
FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-headquartered community bank, with 81 full-service bank branches across Tennessee, Kentucky, North Alabama and North Georgia, and mortgage offices across the Southeast. FirstBank serves five of the largest metropolitan markets in Tennessee and has approximately $11.2 billion in total assets.
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