FB Financial (NYSE:FBK) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• FB Financial reported quarterly earnings of $1.07 per share, exceeding analysts' expectations of $1.03 by $0.04.
• The company's revenue reached $173.88 million for the quarter, surpassing forecasts of $168.03 million.
• FB Financial declared a quarterly dividend of $0.19 per share, yielding 1.3% on an annualized basis, with a payout ratio of 39.38%.

FB Financial (NYSE:FBK - Get Free Report) posted its earnings results on Tuesday. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.96 by $0.11, Zacks reports. FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The business had revenue of $173.88 million during the quarter, compared to the consensus estimate of $168.03 million. During the same quarter last year, the company earned $0.86 EPS.

FB Financial Stock Performance

Shares of FB Financial stock opened at $56.46 on Tuesday. The firm has a fifty day moving average of $53.36 and a two-hundred day moving average of $47.71. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 29.25 and a beta of 0.91. FB Financial has a 52 week low of $38.83 and a 52 week high of $60.51.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. FB Financial's dividend payout ratio (DPR) is presently 39.38%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors raised its stake in FB Financial by 16.6% during the 2nd quarter. Captrust Financial Advisors now owns 25,236 shares of the financial services provider's stock worth $1,143,000 after buying an additional 3,586 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of FB Financial in the second quarter valued at about $1,005,000. Russell Investments Group Ltd. boosted its position in shares of FB Financial by 16.7% during the second quarter. Russell Investments Group Ltd. now owns 21,665 shares of the financial services provider's stock worth $981,000 after buying an additional 3,104 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 buying an additional 930 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in FB Financial by 378.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,149 shares of the financial services provider's stock worth $550,000 after acquiring an additional 9,609 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

Analyst Ratings Changes

FBK has been the subject of a number of analyst reports. Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of FB Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Finally, Cantor Fitzgerald began coverage on FB Financial in a report on Wednesday, September 10th. They issued an "overweight" rating and a $61.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $58.80.

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.