Street Calls of the Week
NASHVILLE - FB Financial Corporation (NYSE:FBK), parent company of FirstBank, announced Monday that its Board of Directors has authorized a stock repurchase program of up to $150 million of the company’s outstanding common stock. The company, currently valued at $2.83 billion and trading at $52.52 per share, has shown strong momentum with a 15.9% return over the past year according to InvestingPro data.
The new authorization will remain in effect until January 31, 2027, replacing the company’s previous repurchase program that was set to expire on January 31, 2026.
Christopher T. Holmes, President and Chief Executive Officer of FB Financial, stated that the repurchase authorization "reflects the Company’s financial strength and strong profitability."
The timing and amount of repurchases will be determined by management based on various factors including market conditions, securities laws restrictions, stock price, regulatory requirements, alternative capital uses, and the company’s financial performance. The company may execute repurchases through open market or privately negotiated transactions, including under Rule 10b5-1 plans.
FB Financial Corporation operates through its banking subsidiary, FirstBank, with 93 full-service branches across Tennessee, Kentucky, Alabama, and Georgia. The company reports approximately $16.0 billion in total assets.
The information in this article is based on a press release statement from FB Financial Corporation.
In other recent news, FB Financial Corporation reported its second-quarter earnings for 2025, revealing a significant revenue shortfall. The company achieved an adjusted earnings per share of $0.88, aligning with analysts’ expectations. However, the actual revenue of $76.86 million fell short of the projected $136.37 million, marking a revenue surprise of -43.64%. In addition to the earnings report, FB Financial redeemed all of its outstanding 4.50% Fixed-to-Floating Rate Subordinated Notes due 2030. The redemption was completed at a price equal to 100% of the principal amount, plus accrued and unpaid interest. This action was in accordance with the terms set when the notes were originally issued in August 2020. These developments are part of FB Financial’s recent activities.
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