FB Financial Corporation $FBK Stock Holdings Increased by UBS Group AG

Key Points

• UBS Group AG boosted its FB Financial stake by 21.8% in the fourth quarter, buying 40,388 more shares and bringing its total to 225,446 shares valued at about $12.6 million.
• Analyst sentiment remains positive, with several firms raising ratings or maintaining bullish targets; the stock has an average “Buy” rating and an average price target of $64.00.
• FB Financial announced shareholder returns including a quarterly dividend of $0.21 per share and a new $175 million share buyback plan authorizing repurchases of up to 6.3% of outstanding shares.

UBS Group AG raised its holdings in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,446 shares of the financial services provider's stock after buying an additional 40,388 shares during the period. UBS Group AG owned about 0.42% of FB Financial worth $12,580,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider's stock valued at $27,000 after buying an additional 293 shares in the last quarter. Assetmark Inc. bought a new stake in shares of FB Financial during the 4th quarter worth $30,000. Bessemer Group Inc. grew its holdings in shares of FB Financial by 294.7% in the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider's stock worth $41,000 after acquiring an additional 557 shares during the last quarter. First Horizon Corp acquired a new position in shares of FB Financial in the 3rd quarter worth $45,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of FB Financial during the third quarter worth $45,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Analyst Ratings Changes

FBK has been the subject of a number of recent analyst reports. Weiss Ratings upgraded FB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on FB Financial from $67.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, April 15th. Piper Sandler raised shares of FB Financial from a "neutral" rating to an "overweight" rating and set a $65.00 price objective for the company in a research note on Thursday, April 2nd. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a report on Wednesday, April 15th. Finally, Raymond James Financial raised shares of FB Financial from a "market perform" rating to a "strong-buy" rating and set a $62.00 target price on the stock in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $64.00.

FB Financial Stock Up 0.6%

Shares of FB Financial stock opened at $51.67 on Friday. FB Financial Corporation has a 12 month low of $42.29 and a 12 month high of $62.37. The stock has a market cap of $2.66 billion, a PE ratio of 19.42 and a beta of 0.97. The business has a fifty day simple moving average of $53.02 and a 200-day simple moving average of $55.64.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The business had revenue of $172.71 million for the quarter, compared to analyst estimates of $175.45 million. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm's quarterly revenue was up 31.8% on a year-over-year basis. Analysts expect that FB Financial Corporation will post 4.71 EPS for the current fiscal year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, May 12th. FB Financial's dividend payout ratio is 31.58%.

FB Financial declared that its Board of Directors has approved a share buyback plan on Monday, April 27th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 6.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

About FB Financial

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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