BlackRock Inc. Makes New $18.94 Million Investment in FB Bancorp, Inc. $FBLA

Key Points

• BlackRock acquired 1,257,616 FB Bancorp shares worth approximately $18.94 million, giving it a 7.78% stake in the company at the end of the second quarter.
• Other institutional investors also increased their positions, including Geode Capital Management, which more than doubled its holdings, and AllianceBernstein, Renaissance Technologies, and State Street.
• FBLA shares opened at $15.82, near their 52-week high, while the company reported $0.05 in quarterly EPS and $14.14 million in revenue. Analyst sentiment remains weak, with a consensus “Sell” rating.

BlackRock Inc. purchased a new stake in shares of FB Bancorp, Inc. (NASDAQ:FBLA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,257,616 shares of the company's stock, valued at approximately $18,940,000. BlackRock Inc. owned approximately 7.78% of FB Bancorp at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Alliancebernstein L.P. increased its position in shares of FB Bancorp by 18.4% in the 3rd quarter. Alliancebernstein L.P. now owns 783,690 shares of the company's stock valued at $9,420,000 after acquiring an additional 121,780 shares during the period. Geode Capital Management LLC lifted its holdings in shares of FB Bancorp by 109.5% during the second quarter. Geode Capital Management LLC now owns 434,736 shares of the company's stock worth $4,892,000 after purchasing an additional 227,274 shares during the period. Renaissance Technologies LLC boosted its position in FB Bancorp by 31.3% in the first quarter. Renaissance Technologies LLC now owns 266,500 shares of the company's stock valued at $3,662,000 after buying an additional 63,600 shares during the last quarter. State Street Corp increased its holdings in FB Bancorp by 24.6% in the 4th quarter. State Street Corp now owns 252,889 shares of the company's stock worth $3,250,000 after buying an additional 49,995 shares during the period. Finally, Mangrove Partners IM LLC increased its holdings in FB Bancorp by 1.0% in the 4th quarter. Mangrove Partners IM LLC now owns 144,020 shares of the company's stock worth $1,851,000 after buying an additional 1,454 shares during the period.

FB Bancorp Stock Up 0.7%

Shares of FBLA opened at $15.82 on Friday. FB Bancorp, Inc. has a 52 week low of $11.66 and a 52 week high of $16.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $252.33 million, a price-to-earnings ratio of -1,580.42 and a beta of -0.08. The stock's 50-day moving average price is $15.48 and its 200-day moving average price is $14.41.

FB Bancorp (NASDAQ:FBLA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.05 earnings per share for the quarter. FB Bancorp had a positive return on equity of 0.91% and a negative net margin of 0.36%.The company had revenue of $14.14 million during the quarter.

Wall Street Analyst Weigh In

Several analysts have commented on FBLA shares. Wall Street Zen upgraded shares of FB Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of FB Bancorp from a "hold (c-)" rating to a "sell (d)" rating in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

FB Bancorp Company Profile

FB Bancorp Inc operates as a bank holding company for Fidelity Bank. The Company, through its subsidiaries, provides deposit accounts, mortgages, home equity and consumer loans, credit and debit cards, online and mobile banking, investments and other financial services. FB Bancorp Inc is based in New Orleans.

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