FB Financial Corp (FBK) Expected to Post Quarterly Sales of $84.58 Million

Analysts expect FB Financial Corp (NYSE:FBK) to report $84.58 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for FB Financial’s earnings, with estimates ranging from $83.76 million to $85.40 million. FB Financial reported sales of $81.43 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The business is scheduled to issue its next quarterly earnings results after the market closes on Monday, October 22nd.

According to Zacks, analysts expect that FB Financial will report full year sales of $335.18 million for the current year, with estimates ranging from $331.82 million to $338.54 million. For the next year, analysts forecast that the company will post sales of $346.42 million, with estimates ranging from $341.91 million to $350.92 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover FB Financial.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, July 24th. The financial services provider reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $87.23 million for the quarter, compared to analyst estimates of $85.34 million. FB Financial had a net margin of 20.27% and a return on equity of 13.36%.

FBK has been the topic of several research reports. TheStreet raised shares of FB Financial from a “c” rating to a “b-” rating in a report on Monday, September 17th. Stephens reaffirmed a “buy” rating and set a $47.00 price target on shares of FB Financial in a report on Tuesday, July 24th. Finally, Zacks Investment Research lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.00.

A number of institutional investors and hedge funds have recently bought and sold shares of FBK. Wells Fargo & Company MN grew its holdings in FB Financial by 31.8% during the 1st quarter. Wells Fargo & Company MN now owns 119,066 shares of the financial services provider’s stock worth $4,833,000 after acquiring an additional 28,760 shares during the last quarter. Swiss National Bank grew its holdings in FB Financial by 13.2% during the 1st quarter. Swiss National Bank now owns 13,700 shares of the financial services provider’s stock worth $556,000 after acquiring an additional 1,600 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in FB Financial by 15.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 59,640 shares of the financial services provider’s stock worth $2,421,000 after acquiring an additional 8,137 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in FB Financial by 62.4% during the 1st quarter. JPMorgan Chase & Co. now owns 5,856 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 2,249 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in FB Financial by 108.2% during the 1st quarter. New York State Common Retirement Fund now owns 141,708 shares of the financial services provider’s stock worth $5,752,000 after acquiring an additional 73,642 shares during the last quarter. 52.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FB Financial stock traded down $0.75 during midday trading on Tuesday, hitting $34.83. 54,079 shares of the company traded hands, compared to its average volume of 101,410. The firm has a market capitalization of $1.11 billion, a PE ratio of 16.45 and a beta of 1.34. The company has a current ratio of 0.93, a quick ratio of 0.84 and a debt-to-equity ratio of 0.22. FB Financial has a 12 month low of $34.83 and a 12 month high of $45.43.

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.

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