Vanguard Group Inc. Buys 60,430 Shares of FB Financial Corporation $FBK

Key Points

• Vanguard Group increased its stake in FB Financial by 2.0% in the fourth quarter, buying 60,430 additional shares and bringing its total holding to 3,018,224 shares valued at about $168.4 million.
• Analysts remain mostly bullish on FB Financial, with a consensus rating of “Buy” and an average price target of $64.00, even as a few firms trimmed their targets slightly.
• FB Financial recently posted quarterly earnings of $1.12 EPS, missing estimates by $0.01, while revenue rose 31.8% year over year; the company also announced a quarterly dividend of $0.21 and a new $175 million share buyback program.

Vanguard Group Inc. boosted its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,018,224 shares of the financial services provider's stock after buying an additional 60,430 shares during the period. Vanguard Group Inc. owned approximately 5.65% of FB Financial worth $168,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBK. UMB Bank n.a. increased its position in FB Financial by 155.9% during the 3rd 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 position in FB Financial during the 4th quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its holdings in shares of FB Financial by 1,152.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock worth $39,000 after purchasing an additional 795 shares in the last quarter. Bessemer Group Inc. increased 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 purchasing an additional 557 shares in the last quarter. Finally, First Horizon Corp bought a new stake in shares of FB Financial in the 3rd quarter worth $45,000. Institutional investors own 65.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Hovde Group reduced their target price on FB Financial from $66.00 to $63.00 and set an "outperform" rating for the company in a report on Monday, April 27th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th. Piper Sandler raised FB Financial from a "neutral" rating to an "overweight" rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. Weiss Ratings raised FB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on FB Financial from $67.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $64.00.

FB Financial Trading Up 0.0%

FB Financial stock opened at $54.14 on Monday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 20.35 and a beta of 0.97. FB Financial Corporation has a 12 month low of $42.29 and a 12 month high of $62.37. The stock has a fifty day simple moving average of $53.37 and a two-hundred day simple moving average of $55.72.

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

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be paid 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 is Tuesday, May 12th. FB Financial's dividend payout ratio (DPR) is 31.58%.

FB Financial declared that its board has initiated a share buyback program on Monday, April 27th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors 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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