FB Financial (NYSE:FBK) Releases Quarterly Earnings Results, Hits Expectations

FB Financial (NYSE:FBK - Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported $0.85 EPS 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%. The company had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same period in the previous year, the firm earned $0.85 earnings per share.

FB Financial Stock Up 0.2 %

FB Financial stock traded up $0.08 during mid-day trading on Friday, reaching $40.56. 289,586 shares of the company's stock were exchanged, compared to its average volume of 165,433. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.42 and a beta of 0.92. The business's fifty day simple moving average is $46.33 and its 200 day simple moving average is $50.18. FB Financial has a one year low of $34.50 and a one year high of $58.88.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.19 dividend. The ex-dividend date was Tuesday, February 11th. This is a positive change from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. FB Financial's dividend payout ratio is currently 27.94%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business's stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $52.56 per share, with a total value of $105,120.00. Following the completion of the acquisition, the insider now owns 10,919,841 shares of the company's stock, valued at $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James W. Iv Cross acquired 7,200 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now directly owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 15,200 shares of company stock valued at $701,468 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

FBK has been the topic of a number of analyst reports. Stephens reduced their price objective on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a research report on Thursday. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler lowered their target price on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, FB Financial currently has a consensus rating of "Hold" and an average target price of $53.80.

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.