BlackRock Inc. Takes Position in FB Financial Corporation $FBK

BlackRock Inc. bought a new position in FB Financial Corporation (NYSE:FBK) in the second quarter, HoldingsChannel reports. The firm bought 6,297,957 shares of the financial services provider’s stock, valued at approximately $348,592,000. BlackRock Inc. owned 0.13% of FB Financial at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC purchased a new stake in FB Financial during the 4th quarter valued at $27,000. Global Retirement Partners LLC purchased a new position in FB Financial during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC boosted its stake in FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock worth $39,000 after buying an additional 795 shares during the period. State of Wyoming bought a new position in FB Financial during the first quarter valued at $63,000. Finally, Johnson Financial Group Inc. bought a new position in FB Financial during the third quarter valued at $75,000. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

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

FB Financial Stock Down 1.6%

Shares of FB Financial stock opened at $57.31 on Wednesday. The stock’s fifty day moving average is $58.26 and its two-hundred day moving average is $55.58. FB Financial Corporation has a 52 week low of $49.24 and a 52 week high of $62.65. The company has a market capitalization of $2.86 billion, a PE ratio of 15.37 and a beta of 0.94.

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

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, August 11th. FB Financial’s dividend payout ratio is currently 22.52%.

About FB Financial

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.