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FB Financial (FBK)

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, the third largest Tennessee-headquartered community bank, with 81 full-service bank branches across Tennessee, Kentucky, North Alabama and North Georgia, and mortgage offices across the Southeast. FirstBank serves five of the largest metropolitan markets in Tennessee and has approximately $11.2 billion in total assets.

Company profile

FBK stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Aug 22
28 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 872.86M 872.86M 872.86M 872.86M 872.86M 872.86M
Cash burn (monthly) 290.15M 70.35M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 856.58M 207.7M n/a n/a n/a n/a
Cash remaining 16.28M 665.17M n/a n/a n/a n/a
Runway (months of cash) 0.1 9.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
31 Jul 22 Carpenter William F Iii Common Stock Grant Acquire A No No 42.85 292 12.51K 11,528
31 Jul 22 Ingram Orrin H Ii Common Stock Grant Acquire A No No 42.85 292 12.51K 68,801
31 Jul 22 Clark Agenia Common Stock Grant Acquire A No No 42.85 146 6.26K 10,669
20 May 22 Charles Wright Pinson Common Stock Grant Acquire A No No 0 1,282 0 16,090
20 May 22 Ayers J. Jonathan Common Stock Grant Acquire A No No 0 1,282 0 14,252
5.6% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 167 170 -1.8%
Opened positions 17 17
Closed positions 20 11 +81.8%
Increased positions 58 64 -9.4%
Reduced positions 55 54 +1.9%
13F shares Current Prev Q Change
Total value 1.18B 2.1B -43.7%
Total shares 30.2M 31.75M -4.9%
Total puts 0 3.08M EXIT
Total calls 30.7K 1.96M -98.4%
Total put/call ratio 1.6
Largest owners Shares Value Change
BLK Blackrock 6M $235.3M +7.1%
TROW T. Rowe Price 4.94M $193.64M +0.1%
Vanguard 2.36M $92.42M +1.6%
Wasatch Advisors 1.51M $59.15M -4.5%
Dimensional Fund Advisors 1.47M $57.82M +2.8%
STT State Street 1.43M $56.12M -1.1%
Cardinal Capital Management 1.01M $39.44M -3.1%
JHG Janus Henderson 805.48K $31.59M -10.8%
GS Goldman Sachs 772.1K $30.28M -25.7%
Geode Capital Management 622.31K $24.41M +2.4%
Largest transactions Shares Bought/sold Change
Parallax Volatility Advisers 0 -1.33M EXIT
BLK Blackrock 6M +399.35K +7.1%
Wellington Management 0 -292.67K EXIT
GS Goldman Sachs 772.1K -267.03K -25.7%
RMB Capital Management 200K +200K NEW
Mendon Capital Advisors 0 -198.2K EXIT
State Of Wisconsin Investment Board 9.66K -112.64K -92.1%
JHG Janus Henderson 805.48K -97.46K -10.8%
Parametric Portfolio Associates 0 -88.71K EXIT
Millennium Management 107.72K +86.64K +410.9%

Financial report summary

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Risks
  • The majority of our assets are loans, which if not repaid would result in losses to the Bank.
  • We are subject to lending concentration risks.
  • MARKET AND INTEREST RATE RISK
  • Difficult or volatile market conditions in the national financial markets, the U.S. economy generally, or the state of Tennessee in particular may adversely affect our lending activity or other businesses, as well as our financial condition.
  • Changes in interest rates could adversely effect on our results of operations and financial condition.
  • A transition away from LIBOR as a reference rate for financial contracts could negatively affect our income and expenses and the value of various financial contracts.
  • The performance of our investment securities portfolio is subject to fluctuation due to changes in interest rates and market conditions, including credit deterioration of the issuers of individual securities.
  • We may be materially and adversely affected by the creditworthiness and liquidity of other financial institutions.
  • A lack of liquidity could adversely affect our operations and jeopardize our business, financial condition or results of operations.
  • Our mortgage revenue is cyclical and is sensitive to the level of interest rates, changes in economic conditions, decreased economic activity, and slowdowns in the housing market.
  • The value of our mortgage servicing rights asset is subjective by nature and may be vulnerable to inaccuracies or other events outside our control.
  • Decreased residential mortgage origination volume and pricing decisions of competitors may adversely affect our profitability.
  • We may incur costs, liabilities, fines and other sanctions if we fail to satisfy our mortgage loan servicing obligations.
  • LEGAL, REGULATORY AND COMPLIANCE RISK
  • We are subject to significant government regulation and supervision.
  • Applicable laws and regulations restrict both the ability of the Bank to pay dividends to us and our ability to pay dividends to our shareholders.
  • As the parent company of the Bank, the Federal Reserve may require us to commit capital resources to support the Bank.
  • Our financial condition may be affected negatively by the costs of litigation.
  • TECHNOLOGY AND OPERATIONAL RISKS
  • We rely on third party vendors to provide services that are integral to the operation of our business.
  • Our risk management framework may not be effective in mitigating risks and/or losses to us.
  • System failure or breaches of our network security, including as a result of cyber-attacks or data security breaches, could subject us to increased operating costs as well as litigation and other liabilities.
  • The financial services industry is undergoing rapid technological changes and we may not have the resources to implement new technology to stay current with these changes.
  • We are subject to certain operational risks, including, but not limited to, client or employee fraud.
  • Catastrophic events, disasters, and climate change could negatively affect our local economies, disrupt our operations, adversely affect client activity levels, adversely affect the creditworthiness of our counterparties and damage our reputation, or result in other consequences which could have an adverse impact on our financial results or condition.
  • STRATEGIC AND OTHER BUSINESS RISKS
  • Our strategy of pursuing acquisitions exposes us to risk.
  • We may not be able to complete future financial institution acquisitions.
  • We have a shareholder who owns a significant portion of our stock and that shareholders' interests in our business may be different than our other shareholders.
  • We could be required to write down goodwill and other intangible assets.
  • We face strong competition from financial services companies and other companies that offer banking services.
  • We face strong competition from financial services companies and other companies that offer banking services.
  • Holders of our subordinated debentures have rights that are senior to those of our common shareholders.
  • New lines of business, products, product enhancements or services may subject us to additional risks.
  • Consumers may decide not to use banks to complete their financial transactions.

Content analysis

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