FB Financial Corporation (FBK) to Issue Quarterly Dividend of $0.21 on February 24th

FB Financial Corporation (NYSE:FBK) announced a quarterly dividend on Thursday, January 22nd. Stockholders of record on Tuesday, February 10th will be given a dividend of 0.21 per share by the financial services provider on Tuesday, February 24th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a 10.5% increase from FB Financial’s previous quarterly dividend of $0.19.

FB Financial has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 8 years. FB Financial has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FB Financial to earn $4.06 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.7%.

FB Financial Trading Down 6.3%

Shares of NYSE FBK opened at $56.95 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of 23.73 and a beta of 0.98. FB Financial has a 12 month low of $38.83 and a 12 month high of $62.37. The stock has a 50 day moving average of $57.09 and a 200-day moving average of $54.18.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The business had revenue of $178.36 million during the quarter, compared to the consensus estimate of $176.30 million. During the same quarter last year, the firm posted $0.85 EPS. Analysts predict that FB Financial will post 3.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on FBK shares. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $66.00 target price (up previously from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Finally, Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $63.00 to $65.00 in a report on Friday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.20.

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.