FB Financial (NYSE:FBK – Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported $1.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.14, FiscalAI reports. The company had revenue of $175.95 million during the quarter, compared to analyst estimates of $177.94 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%.
FB Financial Stock Down 0.1%
NYSE:FBK traded down $0.05 on Monday, hitting $56.63. The stock had a trading volume of 567,493 shares, compared to its average volume of 319,354. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 21.29 and a beta of 0.95. The business’s 50-day simple moving average is $53.88 and its two-hundred day simple moving average is $55.16. FB Financial has a 52-week low of $45.58 and a 52-week high of $62.37.
FB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. FB Financial’s dividend payout ratio is currently 31.58%.
Wall Street Analyst Weigh In
A number of research firms have commented on FBK. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. Keefe, Bruyette & Woods lowered their price target on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, April 15th. Benchmark started coverage on FB Financial in a research report on Wednesday, June 24th. They set a “buy” rating and a $64.00 price objective on the stock. Hovde Group reduced their price objective on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $64.17.
Read Our Latest Analysis on FBK
Institutional Investors Weigh In On FB Financial
Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC purchased a new position in shares of FB Financial in the fourth quarter worth approximately $27,000. Global Retirement Partners LLC purchased a new stake in FB Financial during the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its holdings in FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after buying an additional 795 shares during the last quarter. Johnson Financial Group Inc. bought a new position in FB Financial in the third quarter worth approximately $75,000. Finally, iSAM Funds UK Ltd bought a new position in FB Financial in the third quarter worth approximately $100,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
About FB Financial
FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.
In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.
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