Basswood Capital Management L.L.C. Purchases Shares of 33,216 FB Financial Corporation $FBK

Basswood Capital Management L.L.C. purchased a new position in FB Financial Corporation (NYSE:FBK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,216 shares of the financial services provider’s stock, valued at approximately $1,839,000. Basswood Capital Management L.L.C. owned about 0.07% of FB Financial at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FBK. BlackRock Inc. purchased a new stake in shares of FB Financial during the second quarter valued at $348,592,000. Northwestern Mutual Wealth Management Co. raised its stake in FB Financial by 1,690,485.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock worth $174,519,000 after acquiring an additional 3,127,398 shares during the last quarter. Wellington Management Group LLP raised its stake in FB Financial by 171.3% in the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock worth $96,513,000 after acquiring an additional 1,092,126 shares during the last quarter. North Reef Capital Management LP acquired a new stake in FB Financial during the 4th quarter worth about $49,812,000. Finally, Loomis Sayles & Co. L P lifted its position in FB Financial by 220.6% during the 4th quarter. Loomis Sayles & Co. L P now owns 974,715 shares of the financial services provider’s stock worth $54,389,000 after acquiring an additional 670,691 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FB Financial Trading Up 0.6%

Shares of FBK stock opened at $57.65 on Thursday. The stock has a 50 day moving average of $58.36 and a 200 day moving average of $55.55. The stock has a market cap of $2.88 billion, a P/E ratio of 15.46 and a beta of 0.94. FB Financial Corporation has a twelve month low of $49.24 and a twelve month high of $62.65.

FB Financial (NYSE:FBK) last announced its quarterly 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 company had revenue of $175.94 million during the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. On average, research analysts predict that FB Financial Corporation will post 4.67 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 11th. FB Financial’s 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.