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TPS55288: How to interpret "internal feedback ratio"?

Part Number: TPS55288

I am using the TPS55288 with internal feedback set to the default ratio, which is fb_ratio = 0.0564

I have changed the REF value to be 10 0001 1101b (541 in decimal), which should set Vref = 655mV.

Given these two numbers, I believe the output voltage should be Vref/fb_ratio = 11.6V

However, I am seeing 15V on the output. Am I using the wrong equation? Thanks!