6,297,957 Shares in FB Financial Corporation $FBK Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 6.3 million shares of FB Financial during the second quarter, worth approximately $348.6 million and representing a 12.6% stake. Institutional investors collectively own 65.4% of the company.
• FB Financial reported quarterly earnings of $1.14 per share, matching analyst expectations, while revenue reached $175.94 million. Analysts expect full-year earnings of approximately $4.67 per share.
• The company paid a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 dividend and a 1.5% yield. Analysts maintain a consensus “Buy” rating with an average price target of $64.67.

BlackRock Inc. bought a new stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,297,957 shares of the financial services provider's stock, valued at approximately $348,592,000. BlackRock Inc. owned 12.60% of FB Financial at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC purchased a new stake in FB Financial during the 4th quarter valued at approximately $27,000. Global Retirement Partners LLC purchased a new position in shares of FB Financial in the fourth quarter worth $37,000. EverSource Wealth Advisors LLC lifted its holdings in shares of FB Financial by 1,152.2% in 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 in the last quarter. State of Wyoming bought a new position in shares of FB Financial during the first quarter worth $63,000. Finally, Johnson Financial Group Inc. bought a new position in shares of FB Financial during the third quarter worth $75,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Performance

FBK stock opened at $57.31 on Wednesday. The firm has a fifty day moving average price of $58.26 and a 200 day moving average price of $55.58. FB Financial Corporation has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The firm has a market cap of $2.86 billion, a PE ratio of 15.37 and a beta of 0.94.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. The company had revenue of $175.94 million for the quarter, compared to analysts' expectations of $177.45 million. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. On average, equities analysts predict that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed 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 dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 11th. FB Financial's dividend payout ratio (DPR) is presently 22.52%.

Analyst Ratings Changes

A number of analysts have issued reports on FBK shares. Raymond James Financial lifted 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 report on Tuesday, July 14th. Benchmark raised their price objective on FB Financial from $64.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat.com, FB Financial has a consensus rating of "Buy" and a consensus price target of $64.67.

FB Financial Profile

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.

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