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 two segments, 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 engages in the mortgage origination business. The company also provides owner-occupied and non-owner-occupied real estate commercial, residential real estate 1-4 family mortgage, multi-family residential, commercial and industrial, construction, land acquisition, residential lines of credit, and land development loans; and consumer and other loans, such as car, boat, and other recreational vehicle loans, as well as manufactured homes without real estate and personal lines of credit. In addition, the company offers mortgage banking services through its bank branch networks in the southeastern United States; an internet delivery channel; and trust, insurance, and investment services, as well as online and mobile banking services. As of December 31, 2021, it operated 82 full-service bank branches and 9 limited-service branches locations throughout Tennessee, North Alabama, Southern Kentucky, and North Georgia; and 23 mortgage offices throughout the southeastern United States. The company was formerly known as First South Bancorp, Inc. and changed its name to FB Financial Corporation in 2016. FB Financial Corporation was founded in 1906 and is headquartered in Nashville, Tennessee.
Analyst Ratings Changes
A number of research analysts have weighed in on FBK shares. Stephens lifted their target price on FB Financial to $50.00 in a report on Friday, July 22nd. Piper Sandler decreased their price target on shares of FB Financial to $52.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of FB Financial from $41.00 to $39.00 and set an "underweight" rating for the company in a research report on Friday, July 1st. Truist Financial dropped their price target on shares of FB Financial to $46.00 in a report on Friday, July 22nd. Finally, StockNews.com cut FB Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $46.75.
FB Financial Trading Down 2.7 %
FB Financial stock traded down $1.23 during mid-day trading on Wednesday, hitting $43.89. The company had a trading volume of 247,032 shares, compared to its average volume of 139,397. The company's fifty day moving average is $40.73 and its 200-day moving average is $41.95. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 14.51 and a beta of 1.06. FB Financial has a 12-month low of $37.00 and a 12-month high of $48.03.
FB Financial (NYSE:FBK - Get Rating) last announced its earnings results on Monday, July 18th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.37). FB Financial had a return on equity of 10.88% and a net margin of 25.37%. During the same quarter last year, the firm posted $0.88 EPS. As a group, sell-side analysts expect that FB Financial will post 3.16 EPS for the current fiscal year.
FB Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.52 annualized dividend and a yield of 1.18%. FB Financial's payout ratio is 16.72%.