FB Financial Co. to Issue Quarterly Dividend of $0.17 (NYSE:FBK)

FB Financial Co. (NYSE:FBK) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors 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 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, May 13th.

FB Financial has raised its dividend by an average of 18.6% annually over the last three years and has raised its dividend every year for the last 5 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 Trading Up 0.7 %

NYSE:FBK traded up $0.26 on Friday, hitting $38.55. The company had a trading volume of 119,166 shares, compared to its average volume of 135,847. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 16.18 and a beta of 1.12. The firm has a 50 day moving average of $36.17 and a two-hundred day moving average of $35.75. FB Financial has a 52 week low of $24.34 and a 52 week high of $41.00.

Analyst Ratings Changes

FBK has been the subject of several analyst reports. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $40.50 in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Finally, Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $41.00 in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.43.

Insiders Place Their Bets

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

FB Financial Company Profile

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.