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

FB Financial (NYSE:FBK - Get Free Report) released its earnings results on Monday. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01), Zacks reports. 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 for the quarter, compared to analysts' expectations of $136.32 million.

FB Financial Stock Performance

Shares of NYSE FBK traded up $1.17 during trading hours on Thursday, hitting $49.31. The stock had a trading volume of 697,081 shares, compared to its average volume of 205,232. The company has a market capitalization of $2.26 billion, a P/E ratio of 25.55 and a beta of 0.91. The firm's 50-day moving average price is $45.01 and its two-hundred day moving average price is $46.82. FB Financial has a 52 week low of $38.83 and a 52 week high of $58.88.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a $0.19 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.54%. FB Financial's payout ratio is 39.38%.

Analyst Ratings Changes

Several research firms have weighed in on FBK. Stephens lowered their target price 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. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and lowered their price target for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Finally, Piper Sandler lowered their price target on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, FB Financial has a consensus rating of "Moderate Buy" and a consensus target price of $58.25.

Institutional Investors Weigh In On FB Financial

Several large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new stake in FB Financial in the 1st quarter worth approximately $245,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $980,000 after purchasing an additional 930 shares during the last quarter. Jane Street Group LLC lifted 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 worth $1,893,000 after purchasing an additional 19,235 shares during the last quarter. AQR Capital Management LLC lifted 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 worth $2,752,000 after purchasing an additional 11,414 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 worth $3,715,000 after purchasing an additional 22,662 shares during the last quarter. 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.