Zacks: Analysts Expect FB Financial Co. (NYSE:FBK) Will Announce Quarterly Sales of $137.43 Million

Equities analysts expect FB Financial Co. (NYSE:FBK) to announce $137.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for FB Financial’s earnings. The lowest sales estimate is $132.10 million and the highest is $140.20 million. FB Financial reported sales of $165.85 million in the same quarter last year, which indicates a negative year-over-year growth rate of 17.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, October 25th.

According to Zacks, analysts expect that FB Financial will report full year sales of $554.39 million for the current fiscal year, with estimates ranging from $546.07 million to $561.39 million. For the next year, analysts forecast that the company will report sales of $542.46 million, with estimates ranging from $507.67 million to $564.56 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for FB Financial.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Sunday, July 18th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.15. FB Financial had a return on equity of 15.97% and a net margin of 20.50%. The business had revenue of $135.86 million during the quarter, compared to analyst estimates of $136.88 million.

A number of research analysts have recently commented on the company. TheStreet raised FB Financial from a “c+” rating to a “b-” rating in a research note on Monday, August 30th. Truist cut their target price on FB Financial from $53.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, July 21st. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Wednesday, July 21st. Zacks Investment Research raised FB Financial from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Thursday. Finally, DA Davidson raised FB Financial from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $47.50 to $44.00 in a research note on Thursday, July 8th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $40.50.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of FB Financial by 3.9% during the 2nd quarter. BlackRock Inc. now owns 5,397,447 shares of the financial services provider’s stock valued at $201,431,000 after purchasing an additional 204,687 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of FB Financial by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,230,045 shares of the financial services provider’s stock valued at $83,225,000 after purchasing an additional 176,926 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of FB Financial by 14.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,479,229 shares of the financial services provider’s stock valued at $55,205,000 after purchasing an additional 185,880 shares during the last quarter. State Street Corp lifted its holdings in shares of FB Financial by 11.8% during the 2nd quarter. State Street Corp now owns 1,408,793 shares of the financial services provider’s stock valued at $52,576,000 after purchasing an additional 148,593 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its holdings in shares of FB Financial by 18.5% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,374,236 shares of the financial services provider’s stock valued at $51,286,000 after purchasing an additional 214,319 shares during the last quarter. Institutional investors own 63.88% of the company’s stock.

NYSE:FBK opened at $42.35 on Wednesday. The company has a market capitalization of $2.01 billion, a P/E ratio of 15.07 and a beta of 1.21. FB Financial has a 12 month low of $23.79 and a 12 month high of $49.62. The business’s 50-day moving average is $40.04 and its 200 day moving average is $41.19.

The business also recently announced a quarterly dividend, which was paid on Monday, August 23rd. Shareholders of record on Monday, August 9th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, August 6th. This represents a $0.44 dividend on an annualized basis and a yield of 1.04%. FB Financial’s dividend payout ratio is currently 11.80%.

About FB Financial

FB Financial Corp. is a bank holding company, which provides commercial and consumer banking services to clients in select markets primarily in Tennessee, North Alabama, and North Georgia through its subsidiary. It operates through the Banking and Mortgage segments. The Banking segments deals with interest on loans and investments, loan-related fees, originations in banking footprint, investment services, and deposit-related fees.

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

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