FB Financial (NYSE:FBK) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

FB Financial (NYSE:FBK - Get Free Report) posted its quarterly earnings results on Monday. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01), Zacks reports. FB Financial had a return on equity of 10.24% and a net margin of 16.27%.

FB Financial Stock Up 2.1%

Shares of NYSE FBK traded up $1.03 during mid-day trading on Monday, hitting $49.25. 1,016,155 shares of the company were exchanged, compared to its average volume of 197,035. The stock has a 50 day simple moving average of $44.78 and a 200-day simple moving average of $46.83. FB Financial has a 1-year low of $38.83 and a 1-year high of $58.88. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 18.11 and a beta of 0.91.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, May 13th. FB Financial's payout ratio is currently 27.94%.

Insider Buying and Selling

In other news, Director James W. Iv Cross purchased 7,200 shares of the business's stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average price of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director directly owned 61,278 shares of the company's stock, valued at $2,481,146.22. This represents a 13.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider's stock valued at $980,000 after buying an additional 930 shares during the period. Jones Financial Companies Lllp purchased a new stake in FB Financial in the 1st quarter valued at about $245,000. AQR Capital Management LLC grew its holdings in 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 valued at $2,752,000 after buying an additional 11,414 shares during the period. Jane Street Group LLC grew its holdings in FB Financial by 89.1% in the 1st quarter. Jane Street Group LLC now owns 40,831 shares of the financial services provider's stock valued at $1,893,000 after buying an additional 19,235 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in FB Financial by 39.4% in 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 buying an additional 22,662 shares during the period. Institutional investors and hedge funds own 65.40% of the company's stock.

Analyst Ratings Changes

FBK has been the subject of a number of recent analyst reports. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods upgraded shares of 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. Piper Sandler decreased their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Wall Street Zen upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Stephens cut their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.25.

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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