FB Financial Corporation (FBK) Expected to Post Quarterly Sales of $79.36 Million
Brokerages forecast that FB Financial Corporation (NYSE:FBK) will report $79.36 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for FB Financial Corporation’s earnings. The lowest sales estimate is $78.10 million and the highest is $80.61 million. FB Financial Corporation posted sales of $60.36 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.5%. The business is expected to issue its next earnings results on Thursday, January 25th.
According to Zacks, analysts expect that FB Financial Corporation will report full year sales of $79.36 million for the current fiscal year, with estimates ranging from $289.60 million to $294.03 million. For the next financial year, analysts anticipate that the company will report sales of $346.47 million per share, with estimates ranging from $341.10 million to $351.83 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for FB Financial Corporation.
FB Financial Corporation (NYSE:FBK) last posted its quarterly earnings data on Monday, October 23rd. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.13. FB Financial Corporation had a net margin of 13.61% and a return on equity of 11.90%. The company had revenue of $81.43 million during the quarter, compared to analyst estimates of $76.35 million.
FBK has been the subject of several research reports. UBS AG raised their price objective on shares of FB Financial Corporation from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research lowered shares of FB Financial Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. ValuEngine upgraded shares of FB Financial Corporation from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Keefe, Bruyette & Woods restated a “hold” rating and set a $42.00 price objective on shares of FB Financial Corporation in a research report on Thursday, October 26th. Finally, Stephens restated a “buy” rating and set a $40.00 price objective on shares of FB Financial Corporation in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $42.33.
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in shares of FB Financial Corporation by 70.9% during the third quarter. Legal & General Group Plc now owns 3,195 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,326 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of FB Financial Corporation by 78.1% during the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,732 shares during the period. American International Group Inc. acquired a new stake in shares of FB Financial Corporation during the first quarter worth approximately $144,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of FB Financial Corporation during the first quarter worth approximately $179,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of FB Financial Corporation during the third quarter worth approximately $202,000. Institutional investors own 32.34% of the company’s stock.
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FB Financial Corporation (FBK) opened at $39.98 on Thursday. FB Financial Corporation has a 12-month low of $22.27 and a 12-month high of $41.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.83 and a current ratio of 0.95. The firm has a market cap of $1,222.31, a PE ratio of 20.64 and a beta of 2.46.
FB Financial Corporation Company Profile
FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.
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