6,050 Shares in FB Financial Corporation $FBK Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in FB Financial Corporation (NYSE:FBK) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,050 shares of the financial services provider’s stock, valued at approximately $274,000.

A number of other hedge funds also recently made changes to their positions in the business. Savant Capital LLC purchased a new position in shares of FB Financial in the 2nd quarter worth about $214,000. Atria Investments Inc raised its position in FB Financial by 10.2% in the second quarter. Atria Investments Inc now owns 28,618 shares of the financial services provider’s stock worth $1,296,000 after acquiring an additional 2,639 shares during the period. Peregrine Capital Management LLC boosted its stake in FB Financial by 3.5% in the second quarter. Peregrine Capital Management LLC now owns 134,635 shares of the financial services provider’s stock valued at $6,099,000 after acquiring an additional 4,516 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in FB Financial in the second quarter valued at about $793,000. Finally, AlphaQuest LLC grew its position in shares of FB Financial by 62.7% during the 2nd quarter. AlphaQuest LLC now owns 46,157 shares of the financial services provider’s stock valued at $2,091,000 after acquiring an additional 17,779 shares during the period. 65.40% of the stock is currently owned by institutional investors.

FB Financial Stock Performance

Shares of NYSE FBK opened at $54.34 on Friday. The stock has a market cap of $2.91 billion, a PE ratio of 25.39 and a beta of 0.97. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $60.51. The stock has a fifty day moving average of $54.94 and a 200-day moving average of $50.12.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The company had revenue of $163.71 million for the quarter. On average, sell-side analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, November 10th. FB Financial’s dividend payout ratio (DPR) is 35.51%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.80.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.