FB Financial Co. (FBK) To Go Ex-Dividend on November 5th

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 given 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 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 FB Financial stock opened at $48.91 on Friday. The firm has a 50-day simple moving average of $47.33 and a two-hundred day simple moving average of $42.57. FB Financial has a fifty-two week low of $29.55 and a fifty-two week high of $51.63. The company has a market cap of $2.30 billion, a P/E ratio of 21.36 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FBK shares. 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 report on Wednesday, October 16th. Stephens reissued an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research note on Tuesday, July 16th. Hovde Group upped their price target on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.80.

Insider Buying and Selling

In related 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 purchased at an average price of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the transaction, the insider now owns 10,906,841 shares in the company, valued at $556,248,891. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder James W. Ayers acquired 500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased 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 $556,248,891. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were purchased at an average price of $48.17 per share, with a total value of $96,340.00. Following the completion of the transaction, the insider now owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 10,000 shares of company stock worth $489,910. 1.70% of the stock is owned by 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.