FB Financial Corporation to Issue 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) announced 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 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Tuesday, August 12th.

FB Financial has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE:FBK traded up $0.09 during midday trading on Tuesday, reaching $49.60. The company's stock had a trading volume of 398,193 shares, compared to its average volume of 566,049. FB Financial has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The company has a market capitalization of $2.27 billion, a P/E ratio of 25.70 and a beta of 0.91. The business's fifty day simple moving average is $45.49 and its 200-day simple moving average is $46.66.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%. The company had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. On average, analysts forecast that FB Financial will post 3.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of FB Financial in the first quarter valued at about $245,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of FB Financial by 4.6% during 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 purchasing an additional 930 shares during the period. Jane Street Group LLC raised its holdings in shares of FB Financial by 89.1% during the first quarter. Jane Street Group LLC now owns 40,831 shares of the financial services provider's stock worth $1,893,000 after purchasing an additional 19,235 shares during the period. AQR Capital Management LLC increased its holdings in shares of FB Financial by 23.8% in the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider's stock worth $2,752,000 after acquiring an additional 11,414 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of FB Financial by 39.4% during the 1st 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 in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.