NASHVILLE - FB Financial Corporation (NYSE: NYSE:FBK), a Tennessee-based financial holding company, has declared a quarterly cash dividend of $0.17 per share, scheduled for payment on May 28, 2024, to shareholders on record as of May 14, 2024.
The announcement marks a significant milestone for the company, as this quarter's dividend represents the 25th consecutive quarter of dividend payments to its shareholders. Christopher T. Holmes, President and Chief Executive Officer of FB Financial, expressed pride in this achievement, stating that it reflects the company's commitment to delivering shareholder value and the consistency of its financial performance.
FB Financial Corporation, through its banking subsidiary FirstBank, operates 76 full-service bank branches across Tennessee, Kentucky, Alabama, and North Georgia, in addition to mortgage offices throughout the Southeast. The corporation reports approximately $12.5 billion in total assets.
The regular dividend payment is part of the company's strategy to provide sustainable returns and to support long-term shareholder value. This consistent approach to dividends underscores FB Financial's financial health and dedication to its mission.
The declaration of dividends is a common practice among publicly traded companies, allowing them to return a portion of their profits back to shareholders. Regular dividend payments can also signal a company's strong financial position and can be an important factor for investors when considering the value of a stock.
FB Financial's announcement is based on a press release statement, offering shareholders and potential investors insight into the company's financial practices and stability.
InvestingPro Insights
FB Financial Corporation (NYSE: FBK) has not only continued its tradition of providing dividends but has also raised its dividend for six consecutive years, showcasing a strong commitment to shareholder returns.
The company has been profitable over the last twelve months as of Q1 2024, with a reported operating income margin of 31.17%, indicating efficient management and a solid grasp on operational costs. This profitability is anticipated to continue, as analysts predict FB Financial will maintain profitability through the current year.
InvestingPro Data highlights a market capitalization of $1.75 billion and a Price to Earnings (P/E) ratio of 15.92, which adjusts slightly to 15.69 when looking at the last twelve months as of Q1 2024. This suggests that the company is reasonably valued in comparison to its earnings. Moreover, the company has experienced a large price uptick over the last six months, with a total return of 25.94%, reflecting positive investor sentiment.
InvestingPro Tips for FB Financial Corporation also reveal that six analysts have revised their earnings estimates upwards for the upcoming period, which may indicate potential for future financial growth and performance. For investors seeking more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/FBK. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription and unlock further insights into FB Financial's performance and potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.