Basswood Capital Management L.L.C. purchased a new stake in FB Financial Corporation (NYSE:FBK – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm purchased 33,216 shares of the financial services provider’s stock, valued at approximately $1,839,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new position in shares of FB Financial during the 4th quarter worth approximately $27,000. Global Retirement Partners LLC purchased a new position in shares of FB Financial during the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its stake in 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 valued at $39,000 after acquiring an additional 795 shares during the period. State of Wyoming acquired a new stake in FB Financial in the 1st quarter valued at $63,000. Finally, Johnson Financial Group Inc. purchased a new stake in FB Financial in the 3rd quarter worth $75,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.
FB Financial Stock Performance
Shares of FBK opened at $57.65 on Thursday. The stock has a 50 day moving average price of $58.36 and a 200 day moving average price of $55.55. FB Financial Corporation has a one year low of $49.24 and a one year high of $62.65. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.46 and a beta of 0.94.
FB Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.5%. FB Financial’s payout ratio is presently 22.52%.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on FBK. Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th. Benchmark lifted their target price on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Raymond James Financial boosted their target price on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, FB Financial currently has a consensus rating of “Buy” and a consensus price target of $64.67.
Read Our Latest Analysis on FBK
FB Financial 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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