Vanguard Group Inc. Grows Stake in FB Financial Corporation $FBK

Vanguard Group Inc. lifted its position in FB Financial Corporation (NYSE:FBK) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,018,224 shares of the financial services provider’s stock after buying an additional 60,430 shares during the period. Vanguard Group Inc. owned approximately 0.06% of FB Financial worth $168,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after purchasing an additional 11,414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in FB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 930 shares in the last quarter. Millennium Management LLC lifted its position in FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after purchasing an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in FB Financial during the first quarter valued at $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after purchasing an additional 22,662 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on FBK. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods lowered 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 upgraded FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, April 7th. Finally, Cantor Fitzgerald set a $65.00 target price on FB Financial in a research report on Wednesday, April 15th. One 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, FB Financial presently has an average rating of “Buy” and a consensus target price of $64.00.

FB Financial Stock Up 0.0%

Shares of FB Financial stock opened at $54.14 on Monday. The stock’s 50-day simple moving average is $53.37 and its 200-day simple moving average is $55.72. FB Financial Corporation has a 52 week low of $42.29 and a 52 week high of $62.37. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 20.35 and a beta of 0.97.

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

FB Financial declared that its Board of Directors has approved a stock buyback plan on Monday, April 27th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, May 12th. FB Financial’s payout ratio is presently 31.58%.

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.