50,693 Shares in FB Financial Corporation $FBK Purchased by Keystone Financial Group Inc.

Key Points

• Keystone Financial Group Inc. purchased 50,693 shares of FB Financial Corporation, valued at approximately $2,473,000, making it the company's 18th largest position.
• FB Financial reported a quarterly earnings miss with $0.88 EPS, below the analyst consensus of $0.89, and revenues of $76.86 million against expectations of $136.32 million.
• Analysts have mixed ratings on FB Financial, with five giving a Buy rating and a consensus target price of $58.80, while some have rated it as a Sell or Hold.

Keystone Financial Group Inc. purchased a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 50,693 shares of the financial services provider's stock, valued at approximately $2,473,000. FB Financial comprises 1.6% of Keystone Financial Group Inc.'s portfolio, making the stock its 18th biggest position. Keystone Financial Group Inc. owned about 0.11% of FB Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Avantax Advisory Services Inc. boosted its position in FB Financial by 0.7% during the first quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider's stock worth $1,609,000 after acquiring an additional 253 shares during the last quarter. TBH Global Asset Management LLC boosted its position in FB Financial by 5.3% during the first quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider's stock worth $268,000 after acquiring an additional 290 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in FB Financial by 7.1% during the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock worth $202,000 after acquiring an additional 290 shares during the last quarter. GAMMA Investing LLC boosted its position in FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after acquiring an additional 370 shares during the last quarter. Finally, Albert D Mason Inc. boosted its position in FB Financial by 1.7% during the first quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after acquiring an additional 398 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

FB Financial Stock Performance

FB Financial stock opened at $58.35 on Friday. The company's 50 day simple moving average is $52.26 and its 200-day simple moving average is $47.28. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 30.23 and a beta of 0.91. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The company had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. Equities analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial's payout ratio is 39.38%.

FB Financial 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.

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