Waverly Advisors LLC decreased its stake in FB Financial Corporation (NYSE:FBK - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,987 shares of the financial services provider's stock after selling 24,986 shares during the period. Waverly Advisors LLC owned approximately 0.10% of FB Financial worth $2,648,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in FB Financial in the 4th quarter valued at $27,000. Assetmark Inc. bought a new position in shares of FB Financial during the 4th quarter worth about $30,000. Global Retirement Partners LLC bought a new position in shares of FB Financial during the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC raised its position in shares of FB Financial by 1,152.2% during the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock valued at $39,000 after buying an additional 795 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of FB Financial during the first quarter valued at about $63,000. Institutional investors own 65.40% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on FBK. Cantor Fitzgerald set a $65.00 target price on FB Financial in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of FB Financial in a research report on Tuesday, July 14th. Hovde Group decreased their price objective on FB Financial from $66.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, April 27th. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and set a $65.00 price objective on the stock in a research report on Thursday, April 2nd. 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 research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, FB Financial currently has a consensus rating of "Buy" and an average price target of $64.67.
View Our Latest Stock Report on FB Financial
FB Financial Trading Up 0.7%
NYSE FBK opened at $60.11 on Friday. FB Financial Corporation has a 1-year low of $46.95 and a 1-year high of $62.37. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.11 and a beta of 0.95. The stock's 50 day moving average is $55.65 and its two-hundred day moving average is $55.38.
FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.14. The business had revenue of $175.94 million during the quarter, compared to analysts' expectations of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. On average, analysts predict that FB Financial Corporation will post 4.67 earnings per share for the current year.
FB Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, August 11th. FB Financial's payout ratio is currently 22.52%.
FB Financial announced that its Board of Directors has initiated a share repurchase program on Monday, April 27th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to buy up to 6.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.
About FB Financial
(
Free Report)
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.
Further Reading
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