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

FB Financial Co. (NYSE:FBK) announced a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.39%. The ex-dividend date is Tuesday, November 5th.

FB Financial has increased its dividend by an average of 18.6% per year over the last three years. FB Financial has a dividend payout ratio of 19.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 opened at $48.91 on Monday. The firm has a fifty day moving average of $47.33 and a 200-day moving average of $42.62. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 21.36 and a beta of 1.12. FB Financial has a 1 year low of $29.55 and a 1 year high of $51.63.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $127.44 million. During the same period in the previous year, the business posted $0.71 EPS. Analysts predict that FB Financial will post 3.34 EPS for the current year.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. Piper Sandler downgraded shares of 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. Hovde Group raised their target price on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and a consensus target price of $47.80.

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.