Wealth Preservation Advisors LLC Makes New Investment in FB Financial Corporation $FBK

Key Points

• Wealth Preservation Advisors LLC has acquired a new stake in FB Financial Corporation, purchasing 19,000 shares valued at approximately $881,000.
• FB Financial reported earnings of $0.88 per share for the last quarter, missing estimates, and announced a quarterly dividend of $0.19 per share.
• Analyst recommendations for FB Financial range from upgraded "outperform" ratings with a price target increase to $58, to some analysts lowering ratings to "sell".

Wealth Preservation Advisors LLC bought a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,000 shares of the financial services provider's stock, valued at approximately $881,000. FB Financial makes up 0.6% of Wealth Preservation Advisors LLC's investment portfolio, making the stock its 22nd largest position.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after purchasing an additional 62,876 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of FB Financial by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider's stock worth $8,924,000 after purchasing an additional 3,779 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FB Financial by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after purchasing an additional 3,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FB Financial by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider's stock worth $1,041,000 after purchasing an additional 790 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of FB Financial by 17.8% during the fourth quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock worth $16,317,000 after purchasing an additional 47,761 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Stock Down 0.4%

NYSE FBK traded down $0.23 during trading hours on Monday, hitting $53.69. The company's stock had a trading volume of 288,694 shares, compared to its average volume of 406,708. The stock has a fifty day moving average of $48.74 and a 200 day moving average of $46.28. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $58.88. The firm has a market capitalization of $2.89 billion, a P/E ratio of 27.82 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The business had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. On average, analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.19 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.4%. FB Financial's dividend payout ratio (DPR) is 39.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FBK. Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $52.00 to $58.00 in a report on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, FB Financial has a consensus rating of "Buy" and an average target price of $58.25.

FB Financial Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.