Public Sector Pension Investment Board Buys 5,551 Shares of FB Financial Co. (NYSE:FBK)

Public Sector Pension Investment Board grew its stake in FB Financial Co. (NYSE:FBK) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,563 shares of the financial services provider’s stock after acquiring an additional 5,551 shares during the quarter. Public Sector Pension Investment Board’s holdings in FB Financial were worth $3,027,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rafferty Asset Management LLC raised its holdings in FB Financial by 55.0% in the fourth quarter. Rafferty Asset Management LLC now owns 35,590 shares of the financial services provider’s stock worth $1,418,000 after purchasing an additional 12,632 shares in the last quarter. Wasatch Advisors LP lifted its position in FB Financial by 26.3% during the fourth quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after acquiring an additional 220,835 shares during the last quarter. Vanguard Group Inc. grew its holdings in FB Financial by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock worth $97,816,000 after purchasing an additional 49,313 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FB Financial by 1.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 213,948 shares of the financial services provider’s stock worth $8,057,000 after purchasing an additional 3,630 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of FB Financial by 7.3% during the first quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock worth $7,399,000 after purchasing an additional 13,306 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Down 0.4 %

Shares of NYSE FBK opened at $46.18 on Friday. FB Financial Co. has a 52 week low of $27.42 and a 52 week high of $49.97. The firm has a market cap of $2.17 billion, a P/E ratio of 19.40 and a beta of 1.13. The business’s 50 day moving average price is $45.92 and its 200 day moving average price is $40.46.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $128.22 million for the quarter, compared to the consensus estimate of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. As a group, research analysts expect that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FBK shares. JPMorgan Chase & Co. dropped their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Thursday, June 27th. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. Finally, Stephens reissued an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.33.

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.