CapWealth Advisors LLC Raises Stock Holdings in FB Financial Corporation $FBK

CapWealth Advisors LLC grew its stake in FB Financial Corporation (NYSE:FBK) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,973 shares of the financial services provider’s stock after buying an additional 14,221 shares during the quarter. CapWealth Advisors LLC owned approximately 0.65% of FB Financial worth $19,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. increased its position in FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after buying an additional 293 shares in the last quarter. Assetmark Inc. bought a new position in shares of FB Financial in the fourth quarter worth approximately $30,000. Bessemer Group Inc. boosted its position in shares of FB Financial by 294.7% in the third quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 557 shares during the period. First Horizon Corp bought a new position in shares of FB Financial in the third quarter worth approximately $45,000. Finally, Center for Financial Planning Inc. bought a new position in shares of FB Financial in the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on FBK. Hovde Group dropped their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. Raymond James Financial upgraded FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, April 7th. Finally, Cantor Fitzgerald set a $65.00 price objective on FB Financial in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, FB Financial presently has an average rating of “Buy” and an average price target of $64.00.

FB Financial Price Performance

FB Financial stock opened at $54.16 on Friday. The stock has a market cap of $2.81 billion, a P/E ratio of 20.36 and a beta of 0.98. FB Financial Corporation has a 1 year low of $42.29 and a 1 year high of $62.37. The firm’s 50 day moving average price is $53.57 and its 200-day moving average price is $55.73.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.01). The company had revenue of $172.71 million for the quarter, compared to the consensus estimate of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The company’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities analysts expect that FB Financial Corporation will post 4.71 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is presently 31.58%.

FB Financial declared that its Board of Directors has authorized a share buyback plan on Monday, April 27th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 6.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.