FB Financial (NYSE:FBK) Issues Quarterly Earnings Results

FB Financial (NYSE:FBKGet Free Report) posted its quarterly earnings data on Monday. The financial services provider reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14, FiscalAI reports. The company had revenue of $175.94 million during the quarter, compared to the consensus estimate of $177.94 million. FB Financial had a net margin of 19.00% and a return on equity of 12.04%.

FB Financial Stock Up 3.3%

FBK opened at $58.43 on Wednesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 15.66 and a beta of 0.95. The company’s 50-day moving average price is $54.02 and its 200 day moving average price is $55.17. FB Financial has a fifty-two week low of $45.58 and a fifty-two week high of $62.37.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, May 12th. FB Financial’s dividend payout ratio is 22.52%.

Analyst Ratings Changes

A number of analysts recently weighed in on FBK shares. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a research report on Thursday, April 2nd. Cantor Fitzgerald set a $65.00 price target on FB Financial in a research report on Wednesday, April 15th. Raymond James Financial upped their price target on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Benchmark initiated coverage on shares of FB Financial in a research report on Wednesday, June 24th. They issued a “buy” rating and a $64.00 price objective for the company. Finally, Hovde Group cut their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $64.17.

View Our Latest Report on FBK

Institutional Investors Weigh In On FB Financial

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of FB Financial by 5.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock worth $112,592,000 after buying an additional 109,318 shares in the last quarter. Wellington Management Group LLP boosted its stake in FB Financial by 171.3% during the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after purchasing an additional 1,092,126 shares in the last quarter. State Street Corp increased its position in shares of FB Financial by 4.9% during the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after purchasing an additional 75,951 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of FB Financial by 220.6% in the 4th quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock worth $54,389,000 after buying an additional 670,691 shares in the last quarter. Finally, North Reef Capital Management LP bought a new position in FB Financial during the fourth quarter valued at about $49,812,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Key FB Financial News

Here are the key news stories impacting FB Financial this week:

FB Financial announced that its Board of Directors has authorized a share repurchase plan on Monday, April 27th that allows the company to buyback $175.00 million in shares. This buyback authorization allows the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

About FB Financial

(Get Free Report)

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.

Read More

Earnings History for FB Financial (NYSE:FBK)

Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.