FB Financial Co. (NYSE:FBK) Declares Quarterly Dividend of $0.17

FB Financial Co. (NYSE:FBK) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Tuesday, May 14th will be given a dividend of 0.17 per share by the financial services provider on Tuesday, May 28th. This represents a $0.68 annualized dividend and a yield of 1.76%. The ex-dividend date is Monday, May 13th.

FB Financial has increased its dividend by an average of 18.6% per year over the last three years and has raised its dividend every year for the last 5 years. FB Financial has a dividend payout ratio of 21.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FB Financial to earn $3.14 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 21.7%.

FB Financial Trading Up 0.7 %

FBK traded up $0.26 on Friday, hitting $38.55. 119,166 shares of the company’s stock traded hands, compared to its average volume of 135,847. FB Financial has a one year low of $24.34 and a one year high of $41.00. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 16.20 and a beta of 1.12. The company’s 50 day simple moving average is $36.17 and its 200-day simple moving average is $35.75.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FBK shares. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $41.00 in a report on Tuesday, April 16th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on shares of FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Stephens cut their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 price objective on shares of FB Financial in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, FB Financial currently has a consensus rating of “Hold” and an average target price of $39.43.

Insider Buying and Selling at FB Financial

In other news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were acquired at an average price of $36.35 per share, with a total value of $72,700.00. Following the purchase, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $35.91 per share, with a total value of $107,730.00. Following the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate 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.