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

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Tuesday, November 5th will be given 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 yield of 1.39%. The ex-dividend date is Tuesday, November 5th.

FB Financial has increased its dividend by an average of 18.6% annually over the last three years. FB Financial has a payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 0.6 %

FBK opened at $48.91 on Friday. The firm’s 50 day moving average is $47.33 and its 200-day moving average is $42.57. FB Financial has a 52-week low of $29.55 and a 52-week high of $51.63. The firm has a market capitalization of $2.30 billion, a P/E ratio of 21.36 and a beta of 1.12.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Hovde Group upped their price target on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and an average price target of $47.80.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was purchased at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the acquisition, the insider now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were purchased at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the acquisition, the insider now directly owns 10,902,341 shares of the company’s stock, valued at approximately $524,729,672.33. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers bought 1,500 shares of the stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the acquisition, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,000 shares of company stock worth $489,910. 1.70% of the stock is currently owned by corporate insiders.

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.