FB Financial Corporation (NYSE:FBK) Plans Quarterly Dividend of $0.21

FB Financial Corporation (NYSE:FBK) announced a quarterly dividend on Thursday, July 23rd. Stockholders of record on Tuesday, August 11th will be given a dividend of 0.21 per share by the financial services provider on Tuesday, August 25th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 11th.

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 dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FB Financial to earn $5.19 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 16.2%.

FB Financial Stock Down 1.2%

FBK opened at $58.16 on Friday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 15.59 and a beta of 0.95. The stock has a fifty day moving average of $54.91 and a 200-day moving average of $55.31. FB Financial has a 12-month low of $46.95 and a 12-month high of $62.37.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.14. The business had revenue of $175.94 million for the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. On average, analysts expect that FB Financial will post 4.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FB Financial in a research note on Monday. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a research report on Thursday, April 2nd. Raymond James Financial raised their price target on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Hovde Group lowered their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Finally, Benchmark upped their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $64.67.

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.