FB Financial Corporation (NYSE:FBK) Declares Quarterly Dividend of $0.21

Key Points

• FB Financial Corporation declared a quarterly dividend of $0.21 per share, payable on August 25 to shareholders of record as of August 11. The dividend implies an annualized yield of about 1.4%.
• The company has a solid dividend profile, having increased its dividend annually for the last 8 consecutive years and maintaining a low payout ratio of 19.2%, suggesting the dividend is well covered by earnings.
• FB Financial also has a $175 million share repurchase program authorized, allowing it to buy back up to 6.3% of its stock, which management may view as undervalued.

FB Financial Corporation (NYSE:FBK - Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Shareholders of record on Tuesday, August 11th will be given a dividend of 0.21 per share by the financial services provider on Tuesday, August 25th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 11th.

FB Financial has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. FB Financial has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Analysts expect FB Financial to earn $5.19 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 16.2%.

FB Financial Stock Performance

Shares of FBK opened at $58.16 on Friday. FB Financial has a 1 year low of $46.95 and a 1 year high of $62.37. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 15.59 and a beta of 0.95. The firm has a fifty day moving average of $54.91 and a 200-day moving average of $55.31.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, hitting analysts' consensus estimates of $1.14. The business had revenue of $175.94 million for the quarter, compared to analysts' expectations of $177.45 million. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. Analysts predict that FB Financial will post 4.67 EPS for the current year.

FB Financial declared that its board has approved a stock repurchase program on Monday, April 27th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

FB Financial Company Profile

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.

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