FB Financial Co. (NYSE:FBK) Announces $0.17 Quarterly Dividend

FB Financial Co. (NYSE:FBK) announced a quarterly dividend on Monday, October 28th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.17 per share by the financial services provider on Tuesday, November 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Tuesday, November 5th.

FB Financial has increased its dividend payment by an average of 18.6% annually over the last three years. FB Financial has a dividend payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect FB Financial to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 19.6%.

FB Financial Stock Up 4.9 %

Shares of NYSE:FBK traded up $2.36 on Monday, reaching $50.15. 160,978 shares of the company’s stock were exchanged, compared to its average volume of 145,043. FB Financial has a fifty-two week low of $28.79 and a fifty-two week high of $51.40. The business’s 50-day moving average is $46.92 and its two-hundred day moving average is $42.11. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 20.42 and a beta of 1.13.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter last year, the company earned $0.71 EPS. Analysts predict that FB Financial will post 3.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Friday, October 25th. The shares were bought at an average cost of $48.13 per share, with a total value of $96,260.00. Following the acquisition, the insider now owns 10,902,341 shares in the company, valued at $524,729,672.33. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder James W. Ayers acquired 1,500 shares of FB Financial stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the transaction, the insider now owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $48.13 per share, with a total value of $96,260.00. Following the acquisition, the insider now owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 7,500 shares of company stock valued at $363,830 in the last quarter. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Hovde Group raised their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. 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. 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 report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, FB Financial currently has an average rating of “Hold” and a consensus price target of $47.80.

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.