13,625 Shares in FB Financial Corporation $FBK Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC has acquired 13,625 shares of FB Financial Corporation, valued at approximately $648,000, marking a significant investment in the financial services provider.
• FB Financial's latest quarterly earnings reported an EPS of $0.88, slightly missing the consensus estimate of $0.89, and the firm anticipates posting a total EPS of 3.64 for the current year.
• The company recently announced a quarterly dividend of $0.19 per share, resulting in an annualized dividend yield of 1.3% and a dividend payout ratio of 39.38%.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,625 shares of the financial services provider's stock, valued at approximately $648,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in FB Financial by 24.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,476 shares of the financial services provider's stock worth $2,961,000 after purchasing an additional 11,251 shares in the last quarter. GAMMA Investing LLC boosted its position in FB Financial by 6,237.7% in the 1st quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after purchasing an additional 62,876 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of FB Financial by 25.5% during the 1st quarter. Handelsbanken Fonder AB now owns 6,900 shares of the financial services provider's stock valued at $320,000 after buying an additional 1,400 shares in the last quarter. Albert D Mason Inc. lifted its position in shares of FB Financial by 1.7% during the 1st quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock valued at $1,107,000 after buying an additional 398 shares in the last quarter. Finally, Blue Trust Inc. acquired a new position in FB Financial in the 1st quarter valued at $211,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Trading Up 2.7%

FB Financial stock opened at $58.35 on Friday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 30.23 and a beta of 0.91. The stock has a fifty day moving average price of $52.26 and a 200 day moving average price of $47.28. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The firm had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. As a group, equities analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial's dividend payout ratio (DPR) is currently 39.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FBK. Cantor Fitzgerald initiated coverage on FB Financial in a research note on Wednesday, September 10th. They issued an "overweight" rating and a $61.00 target price for the company. Weiss Ratings restated a "hold (c)" rating on shares of FB Financial in a report on Saturday, September 27th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Finally, Wall Street Zen lowered FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.80.

About FB Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.