FB Financial Co. (FBK) to Issue Quarterly Dividend of $0.17 on November 19th

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 given 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 increased its dividend payment by an average of 18.6% annually over the last three years. FB Financial has a 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 Price Performance

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

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Research analysts expect that FB Financial will post 3.34 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers acquired 1,500 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the acquisition, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder James W. Ayers bought 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $49.58 per share, with a total value of $74,370.00. Following the completion of the acquisition, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James W. Ayers purchased 500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $51.00 per share, for a total transaction of $25,500.00. Following the acquisition, the insider now owns 10,906,841 shares in the company, valued at $556,248,891. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 10,000 shares of company stock worth $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.