William Blair Investment Management LLC Makes New Investment in FB Financial Corporation $FBK

Key Points

• William Blair Investment Management opened a new position in FB Financial, buying 483,200 shares valued at about $27.0 million, and now owns 0.90% of the company.
• FB Financial reported Q1 earnings of $1.12 per share, narrowly missing estimates, while revenue came in at $172.71 million; revenue still grew 31.8% year over year.
• The company announced a quarterly dividend of $0.21 per share and approved a $175 million share repurchase program, signaling continued capital returns to shareholders.

William Blair Investment Management LLC bought a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 483,200 shares of the financial services provider's stock, valued at approximately $26,963,000. William Blair Investment Management LLC owned 0.90% of FB Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings 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 worth $27,000 after buying an additional 293 shares during the period. Assetmark Inc. acquired a new position in FB Financial during the 4th quarter worth about $30,000. Global Retirement Partners LLC bought a new position in shares of FB Financial in the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 795 shares in the last quarter. Finally, Bessemer Group Inc. raised its position 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 in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Stock Performance

Shares of FBK opened at $52.73 on Tuesday. The stock has a 50 day moving average price of $53.05 and a two-hundred day moving average price of $55.53. The firm has a market capitalization of $2.72 billion, a P/E ratio of 19.82 and a beta of 0.97. FB Financial Corporation has a 52 week low of $42.29 and a 52 week high of $62.37.

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

FB Financial Dividend Announcement

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

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

Analyst Upgrades and Downgrades

FBK has been the subject of several research analyst reports. Hovde Group lowered their price objective on FB Financial from $66.00 to $63.00 and set an "outperform" rating for the company in a research report on Monday, April 27th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a research report on Wednesday, April 15th. Raymond James Financial raised FB Financial from a "market perform" rating to a "strong-buy" rating and set a $62.00 target price for the company in a research report on Tuesday, April 7th. Weiss Ratings raised FB Financial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods decreased their target price on FB Financial from $67.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $64.00.

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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