FY2022 EPS Estimates for FB Financial Co. (NYSE:FBK) Cut by DA Davidson

FB Financial Co. (NYSE:FBKGet Rating) – Analysts at DA Davidson decreased their FY2022 earnings estimates for FB Financial in a research note issued to investors on Wednesday, April 20th. DA Davidson analyst K. Fitzsimmons now forecasts that the financial services provider will earn $3.12 per share for the year, down from their previous estimate of $3.47. DA Davidson also issued estimates for FB Financial’s FY2023 earnings at $3.58 EPS.

Several other research analysts have also recently weighed in on FBK. StockNews.com began coverage on shares of FB Financial in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised shares of FB Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Thursday, March 31st. Finally, Stephens boosted their price objective on shares of FB Financial from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, January 19th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $49.20.

FBK opened at $42.41 on Friday. The firm has a 50 day moving average price of $43.76 and a 200-day moving average price of $44.38. FB Financial has a twelve month low of $34.99 and a twelve month high of $48.03. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 10.71 and a beta of 1.05.

FB Financial (NYSE:FBKGet Rating) last issued its earnings results on Monday, April 18th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $129.57 million during the quarter, compared to analysts’ expectations of $132.56 million. FB Financial had a net margin of 31.03% and a return on equity of 13.04%. During the same period in the previous year, the company earned $1.10 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 22nd. Investors of record on Tuesday, February 8th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.23%. This is a positive change from FB Financial’s previous quarterly dividend of $0.11. The ex-dividend date was Monday, February 7th. FB Financial’s payout ratio is 13.13%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in FB Financial by 3.3% during the third quarter. Principal Financial Group Inc. now owns 285,448 shares of the financial services provider’s stock valued at $12,240,000 after buying an additional 9,167 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in FB Financial by 4.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,933 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 1,128 shares during the period. Wasatch Advisors Inc. boosted its position in shares of FB Financial by 4.9% in the third quarter. Wasatch Advisors Inc. now owns 1,441,571 shares of the financial services provider’s stock worth $61,815,000 after purchasing an additional 67,335 shares during the period. Comerica Bank boosted its position in shares of FB Financial by 2.5% in the third quarter. Comerica Bank now owns 32,183 shares of the financial services provider’s stock worth $1,505,000 after purchasing an additional 776 shares during the period. Finally, Texas Permanent School Fund boosted its position in shares of FB Financial by 4.9% in the third quarter. Texas Permanent School Fund now owns 26,277 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 1,218 shares during the period. Institutional investors own 64.99% of the company’s stock.

About FB Financial (Get Rating)

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 two segments, 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 engages in the mortgage origination business.

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

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