Envestnet Asset Management Inc. Buys 4,364 Shares of FB Financial Co. (NYSE:FBK)

Envestnet Asset Management Inc. boosted its stake in shares of FB Financial Co. (NYSE:FBK) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,983 shares of the financial services provider’s stock after buying an additional 4,364 shares during the quarter. Envestnet Asset Management Inc.’s holdings in FB Financial were worth $8,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FBK. Rafferty Asset Management LLC lifted its holdings in FB Financial by 55.0% during the 4th quarter. Rafferty Asset Management LLC now owns 35,590 shares of the financial services provider’s stock valued at $1,418,000 after buying an additional 12,632 shares in the last quarter. Wasatch Advisors LP lifted its holdings in FB Financial by 26.3% during the 4th quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after buying an additional 220,835 shares in the last quarter. Vanguard Group Inc. lifted its holdings in FB Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in FB Financial by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock valued at $8,057,000 after buying an additional 3,630 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in FB Financial by 7.3% during the 1st quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock valued at $7,399,000 after buying an additional 13,306 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

FBK has been the subject of a number of research analyst reports. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their price target on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Finally, Stephens restated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.33.

FB Financial Stock Down 0.4 %

NYSE FBK opened at $46.18 on Friday. The firm has a market cap of $2.17 billion, a PE ratio of 19.40 and a beta of 1.13. The company has a 50 day moving average price of $45.92 and a 200 day moving average price of $40.46. FB Financial Co. has a 52 week low of $27.42 and a 52 week high of $49.97.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $128.22 million during the quarter, compared to analyst estimates of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. On average, equities research analysts anticipate that FB Financial Co. will post 3.25 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

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.