22,219 Shares in FB Financial Corporation $FBK Acquired by Marietta Wealth Management LLC

Marietta Wealth Management LLC bought a new stake in shares of FB Financial Corporation (NYSE:FBK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 22,219 shares of the financial services provider’s stock, valued at approximately $1,238,000.

Other institutional investors and hedge funds have also modified their holdings of the company. TBH Global Asset Management LLC purchased a new position in FB Financial during the 3rd quarter valued at about $307,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in shares of FB Financial by 14.6% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 10,200 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 1,300 shares during the period. Tripletail Wealth Management LLC purchased a new position in FB Financial during the third quarter valued at approximately $31,000. Deprince Race & Zollo Inc. acquired a new position in FB Financial in the 3rd quarter valued at approximately $48,674,000. Finally, Blue Trust Inc. lifted its position in FB Financial by 13.7% in the 3rd quarter. Blue Trust Inc. now owns 5,168 shares of the financial services provider’s stock worth $288,000 after buying an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FBK. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Piper Sandler lifted their price target on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, FB Financial presently has an average rating of “Moderate Buy” and a consensus target price of $60.80.

FB Financial Stock Performance

FBK opened at $56.37 on Wednesday. FB Financial Corporation has a 52-week low of $38.83 and a 52-week high of $60.51. The stock has a 50-day moving average of $55.80 and a 200-day moving average of $52.63. The company has a market cap of $3.01 billion, a PE ratio of 26.34 and a beta of 0.99.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The company had revenue of $163.71 million for the quarter. On average, research analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. FB Financial’s dividend payout ratio is 35.51%.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.