FB Financial Corp (FBK) Expected to Post Quarterly Sales of $82.43 Million

Brokerages expect FB Financial Corp (NYSE:FBK) to post sales of $82.43 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for FB Financial’s earnings, with the highest sales estimate coming in at $86.50 million and the lowest estimate coming in at $80.30 million. FB Financial reported sales of $81.70 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.9%. The firm is expected to report its next earnings report on Monday, April 22nd.

On average, analysts expect that FB Financial will report full year sales of $360.31 million for the current financial year, with estimates ranging from $345.52 million to $370.40 million. For the next financial year, analysts forecast that the company will post sales of $381.17 million, with estimates ranging from $354.01 million to $396.50 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover FB Financial.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.08). FB Financial had a net margin of 21.68% and a return on equity of 12.81%. The business had revenue of $73.62 million during the quarter, compared to the consensus estimate of $86.41 million.

Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of FB Financial from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 13th. SunTrust Banks began coverage on shares of FB Financial in a research report on Tuesday, December 11th. They issued a “buy” rating and a $43.00 price objective on the stock. ValuEngine downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Finally, Stephens reaffirmed a “hold” rating and issued a $40.00 price objective on shares of FB Financial in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.25.

Shares of NYSE:FBK traded up $0.02 during trading hours on Wednesday, hitting $31.76. The company’s stock had a trading volume of 35,290 shares, compared to its average volume of 48,217. FB Financial has a 52 week low of $30.33 and a 52 week high of $44.69. The firm has a market cap of $978.63 million, a P/E ratio of 12.17 and a beta of 0.91.

In other news, Director Raja J. Jubran acquired 2,933 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $34.09 per share, with a total value of $99,985.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 57.29% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of FBK. Zurcher Kantonalbank Zurich Cantonalbank grew its position in FB Financial by 158.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,133 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 694 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in FB Financial during the 4th quarter worth approximately $73,000. Oppenheimer Asset Management Inc. purchased a new stake in FB Financial during the 4th quarter worth approximately $93,000. Great West Life Assurance Co. Can grew its position in FB Financial by 249.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 2,796 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 1,996 shares during the last quarter. Finally, Legal & General Group Plc grew its position in FB Financial by 25.3% during the 3rd quarter. Legal & General Group Plc now owns 2,747 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 555 shares during the last quarter. 53.17% of the stock is currently owned by hedge funds and other institutional investors.

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

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