Brokerages Expect FB Financial Corp (FBK) Will Announce Earnings of $0.70 Per Share

Equities research analysts expect that FB Financial Corp (NYSE:FBK) will report earnings per share of $0.70 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for FB Financial’s earnings. FB Financial posted earnings per share of $0.60 during the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is scheduled to issue its next quarterly earnings report after the market closes on Monday, October 22nd.

On average, analysts expect that FB Financial will report full-year earnings of $2.79 per share for the current fiscal year, with EPS estimates ranging from $2.75 to $2.85. For the next financial year, analysts anticipate that the firm will post earnings of $3.07 per share, with EPS estimates ranging from $3.01 to $3.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow FB Financial.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. FB Financial had a net margin of 20.27% and a return on equity of 13.36%. The company had revenue of $87.23 million during the quarter, compared to the consensus estimate of $85.34 million.

Several equities research analysts recently issued reports on the stock. TheStreet downgraded shares of FB Financial from a “b-” rating to a “c” rating in a research note on Friday, October 12th. Stephens reiterated a “buy” rating and issued a $47.00 target price on shares of FB Financial in a research note on Tuesday, July 24th. Finally, Zacks Investment Research downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.00.

NYSE:FBK traded up $0.33 during mid-day trading on Friday, hitting $36.45. The stock had a trading volume of 425 shares, compared to its average volume of 101,393. FB Financial has a twelve month low of $34.95 and a twelve month high of $45.43. The company has a market capitalization of $1.20 billion, a P/E ratio of 16.71 and a beta of 1.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.84 and a current ratio of 0.93.

Large investors have recently modified their holdings of the stock. Swiss National Bank increased its stake in FB Financial by 113.9% in the second quarter. Swiss National Bank now owns 29,300 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 15,600 shares during the last quarter. Cadence Capital Management LLC raised its position in shares of FB Financial by 12.1% in the 2nd quarter. Cadence Capital Management LLC now owns 56,868 shares of the financial services provider’s stock valued at $2,316,000 after purchasing an additional 6,129 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of FB Financial by 37.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 37,570 shares of the financial services provider’s stock valued at $1,530,000 after purchasing an additional 10,159 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of FB Financial by 31.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 78,121 shares of the financial services provider’s stock valued at $3,182,000 after purchasing an additional 18,481 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of FB Financial in the 2nd quarter valued at approximately $343,000. Institutional investors and hedge funds own 52.28% of the company’s stock.

FB Financial Company Profile

FB Financial Corporation operates as a 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 provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

Featured Article: Float

Get a free copy of the Zacks research report on FB Financial (FBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply