33,603 Shares in FB Financial Corporation $FBK Bought by Artemis Investment Management LLP

Artemis Investment Management LLP acquired a new stake in FB Financial Corporation (NYSE:FBK) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 33,603 shares of the financial services provider’s stock, valued at approximately $1,875,000.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of FB Financial in the third quarter valued at about $35,534,000. Vanguard Group Inc. raised its holdings in FB Financial by 19.5% during the third quarter. Vanguard Group Inc. now owns 2,957,794 shares of the financial services provider’s stock worth $164,867,000 after purchasing an additional 483,191 shares in the last quarter. Leeward Investments LLC MA acquired a new stake in FB Financial in the third quarter valued at about $20,680,000. CapWealth Advisors LLC lifted its position in FB Financial by 3,756.7% in the third quarter. CapWealth Advisors LLC now owns 331,752 shares of the financial services provider’s stock valued at $18,492,000 after purchasing an additional 323,150 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in FB Financial by 587.1% in the 3rd quarter. Alliancebernstein L.P. now owns 305,469 shares of the financial services provider’s stock valued at $17,027,000 after purchasing an additional 261,010 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Trading Up 0.2%

Shares of FBK opened at $54.16 on Friday. FB Financial Corporation has a twelve month low of $42.29 and a twelve month high of $62.37. The firm has a market capitalization of $2.81 billion, a P/E ratio of 20.36 and a beta of 0.97. The firm’s 50-day moving average is $53.57 and its two-hundred day moving average is $55.73.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). The company had revenue of $172.71 million for the quarter, compared to analyst estimates of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. FB Financial’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. Analysts predict that FB Financial Corporation will post 4.71 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s payout ratio is currently 31.58%.

FB Financial announced that its board has approved a share buyback program on Monday, April 27th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on FBK shares. Keefe, Bruyette & Woods dropped their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 15th. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target for the company in a report on Tuesday, April 7th. Hovde Group decreased their price target on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Cantor Fitzgerald set a $65.00 price objective on FB Financial in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, FB Financial has a consensus rating of “Buy” and a consensus target price of $64.00.

FB Financial Company 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.