FB Financial Co. (FBK) to Issue Quarterly Dividend of $0.17 on May 28th

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders 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 increased its dividend by an average of 18.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. FB Financial has a payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. 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 FBK stock traded up $0.26 during trading hours on Friday, hitting $38.55. 119,166 shares of the company’s stock traded hands, compared to its average volume of 135,847. FB Financial has a 12 month low of $24.34 and a 12 month high of $41.00. The stock’s 50 day simple moving average is $36.17 and its 200 day simple moving average is $35.75. The stock has a market cap of $1.81 billion, a PE ratio of 16.20 and a beta of 1.12.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FBK. Hovde Group upgraded 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $38.00 price objective on shares of FB Financial in a research note on Wednesday, April 17th. Stephens reduced their price objective on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. JPMorgan Chase & Co. upped their price objective 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. Finally, Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $41.00 in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial has an average rating of “Hold” and a consensus price target of $39.43.

Insider Transactions at FB Financial

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