FB Financial Corporation Plans Quarterly Dividend of $0.19 (NYSE:FBK)

Key Points

• FB Financial Corporation announced a quarterly dividend of $0.19 per share, payable on August 26th to stockholders of record as of August 12th, which corresponds to an annualized dividend of $0.76 with a yield of 1.55%.
• The company reported a net margin of 11.46% and a return on equity of 10.15% in its latest earnings report, which showed an EPS of $0.88, slightly below estimates.
• FBK's stock has recently been rated as a "Moderate Buy" by analysts, with various price target adjustments, the average being $58.25.
• Institutional investors hold 65.40% of FB Financial's stock, with several hedge funds increasing their positions significantly in the first quarter.

FB Financial Corporation (NYSE:FBK - Get Free Report) declared a quarterly dividend on Friday, July 25th, RTT News reports. Stockholders of record on Tuesday, August 12th will be given a dividend of 0.19 per share by the financial services provider on Tuesday, August 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%.

FB Financial has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FB Financial to earn $4.06 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.7%.

FB Financial Trading Up 2.0%

NYSE FBK traded up $0.95 on Friday, hitting $49.04. 357,114 shares of the company traded hands, compared to its average volume of 254,351. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 25.41 and a beta of 0.91. The business's 50 day moving average price is $45.35 and its 200-day moving average price is $46.71. FB Financial has a 52-week low of $38.83 and a 52-week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The business had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. As a group, sell-side analysts predict that FB Financial will post 3.64 earnings per share for the current year.

Analysts Set New Price Targets

FBK has been the subject of several research analyst reports. Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Piper Sandler decreased their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and decreased their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Stephens dropped their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $58.25.

Hedge Funds Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FBK. Jones Financial Companies Lllp purchased a new position in FB Financial in the 1st quarter worth approximately $245,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FB Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider's stock worth $980,000 after acquiring an additional 930 shares during the period. Jane Street Group LLC grew its position in FB Financial by 89.1% in the first quarter. Jane Street Group LLC now owns 40,831 shares of the financial services provider's stock worth $1,893,000 after acquiring an additional 19,235 shares during the period. AQR Capital Management LLC raised its position in FB Financial by 23.8% in the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider's stock valued at $2,752,000 after purchasing an additional 11,414 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in FB Financial by 39.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider's stock valued at $3,715,000 after purchasing an additional 22,662 shares during the period. Hedge funds and other institutional investors own 65.40% 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.

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