Legal & General Group Plc Invests $5.05 Million in FB Financial Corporation $FBK

Key Points

• Legal & General Group Plc acquired 91,319 shares of FB Financial worth approximately $5.05 million, giving it a 0.18% stake. Institutional investors collectively own 65.40% of the company.
• Analysts remain positive on FB Financial, with a consensus “Buy” rating and an average price target of $64.67; several firms recently raised their targets.
• FB Financial matched quarterly earnings expectations at $1.14 per share, reported $175.94 million in revenue, and maintains a quarterly dividend of $0.21 per share, yielding about 1.5% annually.

Legal & General Group Plc purchased a new stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 91,319 shares of the financial services provider's stock, valued at approximately $5,055,000. Legal & General Group Plc owned about 0.18% of FB Financial at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider's stock worth $103,905,000 after acquiring an additional 28,023 shares during the last quarter. Vanguard Group Inc. lifted its holdings in FB Financial by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider's stock worth $168,417,000 after buying an additional 60,430 shares during the period. William Blair Investment Management LLC bought a new stake in shares of FB Financial in the 2nd quarter valued at about $20,028,000. UBS Group AG lifted its stake in shares of FB Financial by 21.8% in the fourth quarter. UBS Group AG now owns 225,446 shares of the financial services provider's stock worth $12,580,000 after acquiring an additional 40,388 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of FB Financial by 1,690,485.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider's stock valued at $174,519,000 after purchasing an additional 3,127,398 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FBK. Weiss Ratings raised FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Raymond James Financial boosted their price objective on FB Financial from $62.00 to $63.00 and gave the company a "strong-buy" rating in a report on Wednesday, July 1st. Benchmark upped their price objective on shares of FB Financial from $64.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of FB Financial in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, FB Financial currently has a consensus rating of "Buy" and an average price target of $64.67.

FB Financial Price Performance

Shares of NYSE:FBK opened at $56.92 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 capitalization of $2.84 billion, a PE ratio of 15.26 and a beta of 0.92. The business has a fifty day moving average price of $58.65 and a two-hundred day moving average price of $55.41.

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

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.21 per share. 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 is currently 22.52%.

FB Financial Company 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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