FB Financial Co. (FBK) to Issue Quarterly Dividend of $0.17 on August 20th

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Friday, July 26th, NASDAQ reports. Stockholders of record on Tuesday, August 6th will be given a dividend of 0.17 per share by the financial services provider on Tuesday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, August 6th.

FB Financial has raised its dividend payment by an average of 18.6% annually over the last three years. FB Financial has a dividend payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FB Financial to earn $3.31 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 20.5%.

FB Financial Stock Down 1.5 %

Shares of NYSE FBK opened at $44.21 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of 18.58 and a beta of 1.14. FB Financial has a 52-week low of $27.42 and a 52-week high of $48.30. The business has a 50-day moving average price of $39.93 and a 200 day moving average price of $37.92.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FBK. JPMorgan Chase & Co. decreased their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research report on Thursday, June 27th. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $40.00 to $40.50 in a report on Tuesday, April 16th. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and raised their price target for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $42.33.

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.