FB Financial Co. Plans Quarterly Dividend of $0.17 (NYSE:FBK)

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Stockholders of record on Tuesday, November 5th will be paid a dividend of 0.17 per share by the financial services provider on Tuesday, November 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, November 5th.

FB Financial has raised its dividend by an average of 18.6% annually over the last three years. FB Financial has a payout ratio of 19.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect FB Financial to earn $3.47 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 19.6%.

FB Financial Stock Performance

Shares of FBK stock opened at $48.91 on Friday. FB Financial has a 1 year low of $29.55 and a 1 year high of $51.63. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 21.36 and a beta of 1.12. The stock’s 50-day moving average is $47.33 and its two-hundred day moving average is $42.57.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, research analysts predict that FB Financial will post 3.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FBK shares. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods increased their target price on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. Hovde Group raised their price target on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.80.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $51.00 per share, with a total value of $25,500.00. Following the completion of the purchase, the insider now directly owns 10,906,841 shares in the company, valued at approximately $556,248,891. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder James W. Ayers acquired 500 shares of FB Financial stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $51.00 per share, with a total value of $25,500.00. Following the completion of the purchase, the insider now owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average price of $50.29 per share, for a total transaction of $100,580.00. Following the transaction, the insider now owns 10,904,341 shares of the company’s stock, valued at $548,379,308.89. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 10,000 shares of company stock valued at $489,910. 1.70% of the stock is owned by corporate insiders.

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.