FB Financial (NYSE:FBK) Announces Earnings Results

FB Financial (NYSE:FBK) announced its quarterly earnings data on Monday. The financial services provider reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14, FiscalAI reports. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The firm had revenue of $175.95 million for the quarter, compared to the consensus estimate of $177.94 million.

FB Financial Stock Performance

Shares of FB Financial stock traded down $0.05 on Monday, reaching $56.63. 571,232 shares of the stock were exchanged, compared to its average volume of 320,264. FB Financial has a one year low of $45.58 and a one year high of $62.37. The firm has a market cap of $2.92 billion, a PE ratio of 21.29 and a beta of 0.95. The firm’s 50 day moving average is $53.88 and its 200-day moving average is $55.16.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, May 12th. FB Financial’s dividend payout ratio (DPR) is 31.58%.

FB Financial declared that its board has approved a share buyback plan on Monday, April 27th that authorizes the company to repurchase $175.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of analyst reports. Hovde Group reduced their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Raymond James Financial upped their target price on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald set a $65.00 price objective on shares of FB Financial in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods dropped their target price on shares of FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 15th. Finally, Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $64.17.

Hedge Funds Weigh In On FB Financial

A number of hedge funds have recently modified their holdings of FBK. Inspire Investing LLC boosted its position in FB Financial by 2.7% during the fourth quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 219 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of FB Financial by 4.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 299 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in FB Financial by 1.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 21,722 shares of the financial services provider’s stock worth $1,212,000 after purchasing an additional 309 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in FB Financial during the fourth quarter worth approximately $27,000. Finally, California State Teachers Retirement System increased its holdings in FB Financial by 1.4% in the third quarter. California State Teachers Retirement System now owns 34,816 shares of the financial services provider’s stock worth $1,941,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Company Profile

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.