FB Financial Co. (NYSE:FBK) Raises Dividend to $0.19 Per Share

FB Financial Co. (NYSE:FBK) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Tuesday, February 11th will be paid a dividend of 0.19 per share by the financial services provider on Tuesday, February 25th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17.

FB Financial has raised its dividend payment by an average of 15.6% per year over the last three years. FB Financial has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FB Financial to earn $4.08 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 16.7%.

FB Financial Stock Up 0.4 %

Shares of FBK stock opened at $53.01 on Friday. FB Financial has a twelve month low of $33.35 and a twelve month high of $58.88. The business has a fifty day simple moving average of $53.39 and a 200 day simple moving average of $49.62. The company has a market cap of $2.47 billion, a P/E ratio of 21.46 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, equities research analysts anticipate that FB Financial will post 3.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FBK shares. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a report on Monday, November 18th. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.20.

Insiders Place Their Bets

In other news, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the transaction, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. The trade was a 8.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of $48.46 per share, with a total value of $96,920.00. Following the purchase, the insider now directly owns 10,917,841 shares of the company’s stock, valued at $529,078,574.86. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 11,000 shares of company stock valued at $572,510. 1.70% of the stock is currently owned by company insiders.

About FB Financial

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.