FB Financial Corporation (NYSE:FBK) Shares Set to Pay Quarterly Dividend of $0.21

by · The Markets Daily

FB Financial Corporation (NYSE:FBK – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.21 per share by the financial services provider on Tuesday, November 24th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, November 10th.

FB Financial has increased 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% indicating that its dividend is sufficiently covered by earnings. Analysts expect FB Financial to earn $5.09 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 16.5%.

FB Financial Stock Up 3.0%

FBK opened at $53.68 on Friday. FB Financial has a 52 week low of $49.24 and a 52 week high of $62.65. The stock has a market cap of $2.68 billion, a PE ratio of 11.25 and a beta of 0.98. The business has a 50 day moving average of $54.74 and a 200-day moving average of $55.29.

FB Financial (NYSE:FBK – Get Free Report) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21. The company had revenue of $175.62 million for the quarter, compared to analysts’ expectations of $181.56 million. FB Financial had a return on equity of 12.32% and a net margin of 22.62%. Equities analysts anticipate that FB Financial will post 4.65 EPS for the current year.

Insider Buying and Selling

In related news, Director Orrin Ingram, II bought 29,081 shares of the company’s stock in a transaction on Tuesday, October 20th. The shares were acquired at an average cost of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the acquisition, the director owned 124,391 shares of the company’s stock, valued at $6,577,796.08. The trade was a 30.51% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On FB Financial

Several large investors have recently modified their holdings of FBK. BlackRock Inc. purchased a new position in shares of FB Financial in the 2nd quarter worth about $348,592,000. Dimensional Fund Advisors LP grew its position in FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after purchasing an additional 28,023 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in FB Financial by 9.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock valued at $53,830,000 after purchasing an additional 89,465 shares in the last quarter. Bank of America Corp DE bought a new stake in FB Financial during the 2nd quarter valued at about $39,460,000. Finally, Davis Asset Management L.P. bought a new stake in FB Financial during the 2nd quarter valued at about $34,275,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

About FB Financial

(Get Free Report)

FB Financial Corporation (NYSE: FBK) is a financial services holding company headquartered in Nashville, Tennessee. Its principal subsidiary, FirstBank, provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

FirstBank offers deposit accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, and wealth-management solutions. Its lending activities include residential mortgages, commercial real estate, business loans and consumer credit products.

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