FB Financial Co. (NYSE:FBK) Announces $0.17 Quarterly Dividend

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Tuesday, May 14th will be given a dividend of 0.17 per share by the financial services provider on Tuesday, May 28th. This represents a $0.68 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, May 13th.

FB Financial has increased its dividend by an average of 18.6% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. FB Financial has a dividend payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FB Financial to earn $3.14 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 21.7%.

FB Financial Stock Up 0.7 %

Shares of NYSE:FBK traded up $0.26 during trading on Friday, hitting $38.55. 119,166 shares of the company traded hands, compared to its average volume of 135,847. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.20 and a beta of 1.12. FB Financial has a one year low of $24.34 and a one year high of $41.00. The business’s fifty day moving average is $36.17 and its 200-day moving average is $35.75.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FBK shares. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $41.00 in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 price objective on shares of FB Financial in a research report on Wednesday, April 17th. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Stephens reduced their price objective on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.43.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $36.35 per share, with a total value of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were acquired at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the acquisition, the insider now directly owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $35.91 per share, with a total value of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

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.