FB Financial Corporation (FBK) To Go Ex-Dividend on November 10th

FB Financial Corporation (NYSE:FBK) 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 of this dividend 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% meaning 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 Trading Down 0.2%

Shares of FBK opened at $53.51 on Friday. FB Financial has a 12-month low of $49.24 and a 12-month high of $62.65. The firm has a 50-day moving average price of $54.57 and a 200 day moving average price of $55.27. The firm has a market capitalization of $2.67 billion, a P/E ratio of 11.89 and a beta of 0.98.

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

Insiders Place Their Bets

In other news, Director Orrin Ingram, II bought 29,081 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were bought at an average price of $52.88 per share, with a total value of $1,537,803.28. Following the completion of the transaction, the director directly owned 124,391 shares in the company, valued at $6,577,796.08. This trade represents a 30.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FBK. BlackRock Inc. acquired a new stake in FB Financial during the 2nd quarter worth approximately $348,592,000. Dimensional Fund Advisors LP boosted its position in FB Financial by 1.4% in 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 buying an additional 28,023 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of FB Financial by 9.4% in the first quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock worth $53,830,000 after acquiring an additional 89,465 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of FB Financial in the second quarter worth $39,460,000. Finally, Davis Asset Management L.P. acquired a new position in shares of FB Financial in the second quarter worth $34,275,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

About FB Financial

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.