The Manufacturers Life Insurance Company Invests $1.18 Million in FB Financial Corporation $FBK

The Manufacturers Life Insurance Company bought a new stake in FB Financial Corporation (NYSE:FBK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 21,252 shares of the financial services provider’s stock, valued at approximately $1,176,000.

A number of other institutional investors have also recently added to or reduced their stakes in FBK. Davis Asset Management L.P. acquired a new stake in FB Financial in the 2nd quarter valued at $34,275,000. Commerce Bank acquired a new position in shares of FB Financial during the second quarter worth about $386,000. Quantbot Technologies LP acquired a new position in shares of FB Financial during the second quarter worth about $87,000. William Blair Investment Management LLC purchased a new stake in shares of FB Financial in the second quarter worth about $20,028,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of FB Financial in the second quarter worth about $8,993,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FBK has been the topic of several analyst reports. Benchmark raised their target price on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Finally, Raymond James Financial boosted their target price on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $64.67.

FB Financial Stock Performance

NYSE:FBK opened at $57.02 on Friday. FB Financial Corporation has a one year low of $49.24 and a one year high of $62.65. The business’s 50-day simple moving average is $58.67 and its 200 day simple moving average is $55.42. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 15.29 and a beta of 0.92.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The firm had revenue of $175.94 million during the quarter, compared to analyst estimates of $177.45 million. On average, equities research analysts predict that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is presently 22.52%.

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.