FB Financial (NYSE:FBK) Posts Earnings Results, Meets Expectations

FB Financial (NYSE:FBK) announced its earnings results on Monday. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85, Zacks reports. FB Financial had a return on equity of 10.43% and a net margin of 15.18%.

FB Financial Stock Performance

Shares of NYSE FBK traded up $0.58 during mid-day trading on Monday, hitting $41.14. The stock had a trading volume of 378,534 shares, compared to its average volume of 165,179. The firm has a market cap of $1.92 billion, a P/E ratio of 16.66 and a beta of 0.92. The business has a 50 day moving average price of $47.59 and a two-hundred day moving average price of $50.43. FB Financial has a 1 year low of $33.35 and a 1 year high of $58.88.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

FBK has been the topic of a number of recent analyst reports. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Piper Sandler increased their target price on FB Financial from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Stephens reduced their price objective on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.40.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was bought at an average price of $52.07 per share, for a total transaction of $104,140.00. Following the completion of the acquisition, the insider now directly owns 10,921,841 shares in the company, valued at $568,700,260.87. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought a total of 8,000 shares of company stock valued at $409,940 in the last quarter. Insiders own 1.70% of the company’s stock.

About FB Financial

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.