DA Davidson Comments on FB Financial Co.’s FY2022 Earnings (NYSE:FBK)

FB Financial Co. (NYSE:FBK) – Investment analysts at DA Davidson upped their FY2022 earnings per share estimates for shares of FB Financial in a research report issued on Wednesday, June 9th. DA Davidson analyst K. Fitzsimmons now expects that the financial services provider will post earnings per share of $3.04 for the year, up from their previous estimate of $2.96.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Sunday, April 25th. The financial services provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.26. FB Financial had a net margin of 17.39% and a return on equity of 16.35%.

Several other analysts have also recently issued reports on the company. Truist increased their price objective on FB Financial from $43.00 to $53.00 in a research note on Monday, March 8th. Zacks Investment Research downgraded FB Financial from a “buy” rating to a “hold” rating in a report on Friday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $38.40.

Shares of FBK stock opened at $39.52 on Thursday. The firm has a 50 day simple moving average of $42.27. The stock has a market cap of $1.87 billion, a PE ratio of 15.14 and a beta of 1.21. FB Financial has a 52 week low of $21.97 and a 52 week high of $49.62.

Several institutional investors have recently added to or reduced their stakes in FBK. BlackRock Inc. increased its holdings in FB Financial by 6.1% in the first quarter. BlackRock Inc. now owns 5,192,760 shares of the financial services provider’s stock valued at $230,870,000 after buying an additional 297,623 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of FB Financial by 5.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,084,183 shares of the financial services provider’s stock worth $176,574,000 after acquiring an additional 285,111 shares in the last quarter. Cardinal Capital Management LLC CT increased its holdings in shares of FB Financial by 24.5% in the 4th quarter. Cardinal Capital Management LLC CT now owns 1,276,956 shares of the financial services provider’s stock valued at $44,349,000 after acquiring an additional 251,016 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of FB Financial by 38.1% during the 1st quarter. Wasatch Advisors Inc. now owns 1,159,917 shares of the financial services provider’s stock worth $51,570,000 after acquiring an additional 320,007 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in FB Financial by 9.8% during the first quarter. Geode Capital Management LLC now owns 511,120 shares of the financial services provider’s stock worth $22,724,000 after purchasing an additional 45,521 shares during the last quarter. 60.10% of the stock is owned by institutional investors and hedge funds.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 24th. Stockholders of record on Monday, May 10th were issued a $0.11 dividend. The ex-dividend date was Friday, May 7th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.11%. FB Financial’s payout ratio is 11.80%.

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 businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, and municipal and savings accounts; and time deposits and certificates of deposit.

Recommended Story: What are municipal bonds?

Earnings History and Estimates for FB Financial (NYSE:FBK)

Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.