FB Financial (NYSE:FBK) Shares Gap Down After Earnings Miss

FB Financial Corporation (NYSE:FBK - Get Free Report) gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $49.21, but opened at $47.73. FB Financial shares last traded at $47.18, with a volume of 261,431 shares trading hands.

The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to the consensus estimate of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.20%.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, May 13th. FB Financial's dividend payout ratio is currently 39.38%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $52.00 to $58.00 in a research note on Friday. Piper Sandler decreased their target price on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Stephens decreased their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $58.25.

Insiders Place Their Bets

In related news, Director James W. Iv Cross bought 7,200 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average cost of $40.49 per share, with a total value of $291,528.00. Following the transaction, the director owned 61,278 shares in the company, valued at approximately $2,481,146.22. This trade represents a 13.31% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its stake in shares of FB Financial by 42.9% in the second quarter. Public Employees Retirement System of Ohio now owns 23,886 shares of the financial services provider's stock worth $1,082,000 after acquiring an additional 7,167 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of FB Financial during the second quarter valued at approximately $648,000. Lbmc Investment Advisors LLC purchased a new stake in FB Financial during the 2nd quarter valued at $254,000. Mendon Capital Advisors Corp bought a new stake in FB Financial in the 1st quarter worth about $2,318,000. Finally, Jane Street Group LLC raised its position 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 buying an additional 19,235 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Down 4.5%

The company's 50 day simple moving average is $44.87 and its 200-day simple moving average is $46.81. The firm has a market cap of $2.15 billion, a P/E ratio of 24.35 and a beta of 0.91.

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.