FB Financial Corporation $FBK Shares Bought by Sei Investments Co.

Key Points

• Sei Investments increased its FB Financial stake by 38.5% in the first quarter, bringing its holdings to 165,641 shares worth approximately $8.6 million. Institutional investors and hedge funds collectively own 65.4% of the company.
• FB Financial reported quarterly EPS of $1.14, in line with analyst estimates, while revenue of $175.94 million fell slightly short of projections. Shares opened at $60.34, near the company’s 12-month high of $62.37.
• The company declared a quarterly dividend of $0.21 per share and authorized a $175 million stock-repurchase plan covering up to 6.3% of outstanding shares. Analysts maintain a consensus “Buy” rating with an average price target of $64.67.

Sei Investments Co. lifted its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 38.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 165,641 shares of the financial services provider's stock after acquiring an additional 46,006 shares during the period. Sei Investments Co. owned 0.32% of FB Financial worth $8,603,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FBK. CIBC Private Wealth Group LLC acquired a new position in FB Financial during the 4th quarter valued at about $27,000. Assetmark Inc. acquired a new stake in shares of FB Financial in the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new stake in shares of FB Financial in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC increased its stake 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 valued at $39,000 after purchasing an additional 795 shares during the period. Finally, State of Wyoming bought a new stake in shares of FB Financial during the first quarter valued at approximately $63,000. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Trading Down 0.1%

Shares of NYSE:FBK opened at $60.34 on Monday. The company has a 50 day moving average of $55.80 and a 200-day moving average of $55.39. The firm has a market cap of $3.11 billion, a P/E ratio of 16.18 and a beta of 0.94. FB Financial Corporation has a twelve month low of $46.95 and a twelve month high of $62.37.

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

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. FB Financial's dividend payout ratio (DPR) is 22.52%.

FB Financial announced that its Board of Directors has authorized a stock buyback plan on Monday, April 27th that permits the company to repurchase $175.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FBK. Weiss Ratings reiterated a "buy (b-)" rating on shares of FB Financial in a research report on Monday, July 20th. Hovde Group cut their target price on FB Financial from $66.00 to $63.00 and set an "outperform" rating on the stock in a research note on Monday, April 27th. Benchmark boosted their price target on FB Financial from $64.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. Cantor Fitzgerald set a $65.00 price target on FB Financial in a research report on Wednesday, April 15th. Finally, Raymond James Financial increased their price target on FB Financial from $62.00 to $63.00 and gave the stock a "strong-buy" rating in a research note 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 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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