# FB Financial Corporation (FBK)

> Source: Nexqual · https://nexqual.com/FBK · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, FB Financial Corporation (FBK), nexqual.com/FBK" · informational, not investment advice.

**Price:** USD 53.46 (-0.30% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 53.62 · day 53.11–54.09 · 52w 49.24–62.66 · market cap $2.64B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $700M, net income $197M (28.1% margin) (SEC filings).
- Valuation: P/E 13.4x (avg 19.7x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $413K; 1 not under a Rule 10b5-1 plan ($413K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $1.5M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (8 analysts), mean target USD 63.38 (range 61–65).
- Total return with dividends: 1Y -2.7% vs S&P 500 +13.4%; 5Y +27.2% vs S&P 500 +76.9%.
- Next earnings: 2026-10-13, EPS estimate USD 1.19, revenue estimate $179M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $576M | $527M | $478M | $456M | $560M | $700M |
| Net income | $190M | $125M | $120M | $116M | $123M | $197M |
| EPS (diluted) | $3.97 | $2.64 | $2.57 | $2.48 | $2.45 | — |
| Free cash flow | $48.8M | $789M | $191M | $132M | $147M | $200M |
| Net margin | 33.1% | 23.6% | 25.2% | 25.5% | 21.9% | 28.1% |
| Revenue growth | +1.4% | -8.5% | -9.3% | -4.6% | +22.9% | — |
| Cash + short-term investments | $1.80B | $1.03B | $811M | $1.04B | $1.16B | — |
| Total debt | $172M | $416M | $391M | $177M | $213M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.4x · P/S 3.8x · P/FCF 13.2x · P/B 1.4x · FCF yield 7.56% · Earnings yield 7.44% · Dividend yield (paid, TTM) 1.59% · Buyback yield (TTM) 8.24%
P/E at fiscal year-ends: Dec 2025 22.8x, Dec 2024 20.8x, Dec 2023 15.5x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-15 | Joyce Lynn J | Chief Accounting Officer | 7,000 | $413K | 14.5% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $1.5M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-10-20 | Ingram Orrin H Ii | Director | 29,081 | $1.5M | 52.88 | Too little history (no open-market trades in 2024 or 2025) |

## Analysts
Consensus Buy (mean 1.75 on a 1–5 scale), 8 analysts; mean target USD 63.38 (low 61, high 65).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | Keefe, Bruyette & Woods | Target lowered | Outperform | $65 → $64 |
| 2026-10-14 | StoneX | Target lowered | Buy | $67 → $61 |
| 2026-10-14 | Cantor Fitzgerald | Reiterated | Overweight | $65 |
| 2026-07-15 | Benchmark | Target raised | Buy | $64 → $67 |
| 2026-07-01 | Raymond James | Target raised | Strong Buy | $62 → $63 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -2.7% | +27.2% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -2.7% | +4.9% |
| Volatility (annualized) | 24.0% | 31.0% |
| Max drawdown | -18.9% (Aug 2026→Oct 2026) | -45.5% (Nov 2021→May 2023) |

## Peers (Banks - Regional)
BBD (Banco Bradesco Sa) USD 4.07 +3.04% · FITB (Fifth Third Bancorp) USD 52.98 -0.47% · DB (Deutsche Bank AG) USD 31.2 -0.89% · TFC (Truist Financial Corporation) USD 48.44 +0.04% · NWG (NatWest Group plc) USD 16.8 -1.12% · NU (Nu Holdings Ltd.) USD 15.16 +2.92%

## More
Full page: https://nexqual.com/FBK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Mortgage banking income | $11.2M | — | -14.3% |
| Investment services and trust income | $4.5M | — | +15.2% |
| Service charges on deposit accounts | $4.5M | — | +31.7% |
| ATM and interchange fees | $3.3M | — | +13.8% |
| Total revenue | — | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.19 | $1.22 | -2.0% | $179.4M | 8 |
| Next quarter (ends 2027-03-31) | $1.18 | $1.20 | -2.3% | $179.2M | 8 |
| Current fiscal year (ends 2026-12-31) | $4.67 | $4.68 | -0.4% | $704.4M | 8 |
| Next fiscal year (ends 2027-12-31) | $5.05 | $5.14 | -1.6% | $748.1M | 8 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 27 | 23.9% | ±6.9% |
| 2027-01-15 | 83 | 28.6% | ±11.3% |
| 2027-04-16 | 174 | 26.1% | ±14.6% |