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

FB Financial Corporation (NYSE:FBK - Get Free Report) shares gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. 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 changing hands.

The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company 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 10.15%.

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 given a $0.19 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.56%. FB Financial's dividend payout ratio is currently 39.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FBK shares. Piper Sandler cut their price target on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock 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. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and upped their target price for the company from $52.00 to $58.00 in a report on Friday, July 11th. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and dropped their target price for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. Finally, Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.25.

Institutional Investors Weigh In On FB Financial

A number of institutional investors and hedge funds have recently modified their holdings of FBK. Charles Schwab Investment Management Inc. grew its stake in FB Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider's stock valued at $19,383,000 after buying an additional 2,943 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of FB Financial during the 4th quarter worth approximately $9,546,000. Amundi grew its position in shares of FB Financial by 185.9% during the 4th quarter. Amundi now owns 17,611 shares of the financial services provider's stock worth $885,000 after purchasing an additional 11,452 shares in the last quarter. Intech Investment Management LLC grew its position in shares of FB Financial by 136.2% during the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock worth $855,000 after purchasing an additional 9,570 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of FB Financial by 1.6% during the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock worth $1,315,000 after purchasing an additional 412 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Trading Down 0.9%

The stock's 50-day simple moving average is $45.08 and its 200-day simple moving average is $46.80. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 25.30 and a beta of 0.91.

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.