FB Financial (NYSE:FBK) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

FB Financial (NYSE:FBK) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01, Zacks reports. FB Financial had a net margin of 14.40% and a return on equity of 10.38%.

FB Financial Trading Up 2.3 %

Shares of NYSE FBK opened at $53.60 on Wednesday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 23.41 and a beta of 1.16. The stock has a 50-day moving average price of $53.77 and a two-hundred day moving average price of $49.04. FB Financial has a 12 month low of $33.35 and a 12 month high of $58.88.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.27%. The ex-dividend date was Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Insider Activity

In related news, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was purchased at an average price of $50.29 per share, with a total value of $100,580.00. Following the purchase, the insider now owns 10,904,341 shares in the company, valued at approximately $548,379,308.89. The trade was a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 15,500 shares of company stock valued at $794,850. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FBK shares. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a report on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial currently has an average rating of “Hold” and a consensus price target of $50.20.

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.