Creative Planning Purchases 6,037 Shares of FB Financial Co. (NYSE:FBK)

Creative Planning increased its position in FB Financial Co. (NYSE:FBK) by 31.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,159 shares of the financial services provider’s stock after purchasing an additional 6,037 shares during the period. Creative Planning owned approximately 0.05% of FB Financial worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in FB Financial by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after purchasing an additional 9,694 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after purchasing an additional 106,553 shares in the last quarter. Wasatch Advisors LP boosted its stake in FB Financial by 13.1% in the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares in the last quarter. Janus Henderson Group PLC lifted its stake in FB Financial by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock valued at $42,812,000 after acquiring an additional 33,310 shares during the period. Finally, Heartland Advisors Inc. lifted its stake in FB Financial by 22.0% during the 1st quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock valued at $11,999,000 after acquiring an additional 57,355 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Stock Down 0.5 %

NYSE FBK opened at $45.71 on Friday. The company has a 50-day moving average price of $45.74 and a 200-day moving average price of $41.07. The firm has a market capitalization of $2.15 billion, a P/E ratio of 19.21 and a beta of 1.13. FB Financial Co. has a 52 week low of $27.61 and a 52 week high of $49.97.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company 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%. As a group, equities research analysts anticipate that FB Financial Co. will post 3.25 EPS for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FBK. Stephens restated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered their target price on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Thursday, June 27th. Keefe, Bruyette & Woods upped their target price on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.33.

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.