Wasatch Advisors LP Acquires 139,395 Shares of FB Financial Co. (NYSE:FBK)

Wasatch Advisors LP increased its position in shares of FB Financial Co. (NYSE:FBK) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,199,457 shares of the financial services provider’s stock after purchasing an additional 139,395 shares during the period. Wasatch Advisors LP’s holdings in FB Financial were worth $45,172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of FB Financial by 975.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock worth $319,000 after buying an additional 10,198 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after purchasing an additional 40,394 shares during the period. Earnest Partners LLC lifted its position in shares of FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock worth $15,822,000 after purchasing an additional 34,601 shares during the period. Wakefield Asset Management LLLP lifted its position in FB Financial by 10.7% during the fourth quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock valued at $1,007,000 after acquiring an additional 2,447 shares during the last quarter. Finally, Mariner LLC lifted its position in FB Financial by 1.6% during the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 323 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Up 1.2 %

NYSE:FBK opened at $39.11 on Wednesday. The company’s 50-day moving average price is $37.46 and its 200-day moving average price is $37.20. The company has a market cap of $1.84 billion, a P/E ratio of 16.43 and a beta of 1.14. FB Financial Co. has a twelve month low of $26.71 and a twelve month high of $41.00.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, April 15th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.15. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The company had revenue of $107.45 million for the quarter, compared to the consensus estimate of $119.84 million. On average, analysts expect that FB Financial Co. will post 3.12 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Monday, May 13th. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

FBK has been the subject of a number of research analyst reports. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $41.00 in a report on Tuesday, April 16th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $38.00 price target on shares of FB Financial in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased their price objective on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. Stephens raised shares of FB Financial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $39.00 to $45.00 in a report on Thursday, May 23rd. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $40.50 in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.86.

FB Financial Company 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.