Q1 2023 EPS Estimates for FB Financial Co. (NYSE:FBK) Decreased by DA Davidson

Posted by on Apr 7th, 2023

FB Financial Co. (NYSE:FBK – Get Rating) – DA Davidson decreased their Q1 2023 earnings per share estimates for shares of FB Financial in a report released on Wednesday, April 5th. DA Davidson analyst K. Fitzsimmons now forecasts that the financial services provider will earn $0.76 per share for the quarter, down from their previous estimate of $0.79. The consensus estimate for FB Financial’s current full-year earnings is $3.04 per share. DA Davidson also issued estimates for FB Financial’s FY2023 earnings at $2.88 EPS and FY2024 earnings at $2.68 EPS.

FB Financial (NYSE:FBK – Get Rating) last announced its earnings results on Tuesday, January 17th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. FB Financial had a return on equity of 10.36% and a net margin of 20.90%. The firm had revenue of $127.97 million during the quarter, compared to the consensus estimate of $134.53 million.

Several other analysts also recently weighed in on FBK. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $42.00 target price for the company. in a research note on Wednesday, December 14th. Stephens cut FB Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $46.00 to $42.00 in a report on Tuesday, December 13th. JPMorgan Chase & Co. cut their price target on FB Financial from $37.00 to $30.00 in a report on Thursday. Janney Montgomery Scott cut FB Financial from a “buy” rating to a “neutral” rating and set a $40.00 price target for the company. in a report on Wednesday, December 14th. Finally, Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 13th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and an average target price of $41.57.

FB Financial Stock Down 0.6 %

Shares of NYSE:FBK opened at $29.52 on Thursday. The business has a 50 day moving average price of $35.00 and a 200 day moving average price of $37.82. FB Financial has a twelve month low of $29.12 and a twelve month high of $45.25. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 11.18 and a beta of 1.02.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Tuesday, February 7th were issued a $0.15 dividend. The ex-dividend date was Monday, February 6th. This is a boost from FB Financial’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.03%. FB Financial’s dividend payout ratio is presently 22.73%.

Insider Transactions at FB Financial

In other FB Financial news, Director Raja J. Jubran purchased 6,150 shares of the company’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $32.39 per share, with a total value of $199,198.50. Following the acquisition, the director now directly owns 29,039 shares of the company’s stock, valued at approximately $940,573.21. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FBK. JPMorgan Chase & Co. boosted its position in shares of FB Financial by 9.6% in the 1st quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock worth $4,210,000 after purchasing an additional 8,263 shares during the last quarter. American Century Companies Inc. lifted its holdings in FB Financial by 20.4% during the first quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock worth $1,908,000 after acquiring an additional 7,283 shares in the last quarter. Citigroup Inc. lifted its holdings in FB Financial by 16.3% during the first quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock worth $1,404,000 after acquiring an additional 4,442 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in FB Financial by 57.4% during the first quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock worth $763,000 after acquiring an additional 6,267 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in FB Financial by 2.9% during the first quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock worth $4,129,000 after acquiring an additional 2,589 shares in the last quarter. 63.98% of the stock is owned by institutional investors and hedge funds.

FB Financial Company Profile

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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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