Corient Private Wealth LP Buys Shares of 21,718 FB Financial Corporation $FBK

Key Points

• Corient Private Wealth acquired 21,718 shares of FB Financial worth approximately $1.2 million, while institutional investors collectively own 65.4% of the company.
• Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $64.67; Benchmark and Raymond James recently raised their targets to $67 and $63, respectively.
• FB Financial shares opened at $57.02, while the company reported quarterly EPS of $1.14 and declared a quarterly dividend of $0.21 per share, representing a 1.5% annualized yield.

Corient Private Wealth LP acquired a new stake in FB Financial Corporation (NYSE:FBK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 21,718 shares of the financial services provider's stock, valued at approximately $1,202,000.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE purchased a new position in FB Financial during the 2nd quarter worth approximately $39,460,000. Basswood Capital Management L.L.C. purchased a new stake in shares of FB Financial during the second quarter worth about $1,839,000. Jupiter Topco LLC purchased a new stake in shares of FB Financial in the second quarter valued at $21,338,000. Legal & General Group Plc acquired a new position in FB Financial during the second quarter worth approximately $5,055,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of FB Financial during the 2nd quarter worth about $1,176,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on FBK shares. Weiss Ratings upgraded shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of FB Financial in a research note on Tuesday, July 14th. Benchmark increased their price target 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, Raymond James Financial upped their target price on FB Financial from $62.00 to $63.00 and gave the company a "strong-buy" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, FB Financial currently has an average rating of "Buy" and a consensus price target of $64.67.

FB Financial Trading Up 0.1%

Shares of FB Financial stock opened at $57.02 on Friday. FB Financial Corporation has a 1 year low of $49.24 and a 1 year high of $62.65. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 15.29 and a beta of 0.92. The company's fifty day simple moving average is $58.67 and its 200-day simple moving average is $55.42.

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

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, August 11th. FB Financial's dividend payout ratio is 22.52%.

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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