Hsbc Holdings PLC Buys Shares of 11,000 FB Financial Corporation $FBK

Hsbc Holdings PLC purchased a new stake in shares of FB Financial Corporation (NYSE:FBK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,000 shares of the financial services provider’s stock, valued at approximately $615,000.

A number of other large investors have also recently made changes to their positions in FBK. Mercer Global Advisors Inc. ADV lifted its position in FB Financial by 37.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 13,717 shares of the financial services provider’s stock valued at $765,000 after purchasing an additional 3,701 shares during the period. State of Tennessee Department of Treasury grew its position in FB Financial by 54.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 13,370 shares of the financial services provider’s stock worth $769,000 after purchasing an additional 4,687 shares during the period. NewEdge Advisors LLC purchased a new stake in FB Financial during the 4th quarter valued at $2,638,000. Wellington Management Group LLP raised its stake in FB Financial by 171.3% during the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after buying an additional 1,092,126 shares during the last quarter. Finally, Twinbeech Capital LP bought a new position in shares of FB Financial during the 4th quarter valued at $246,000. 65.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FBK. Hovde Group dropped their price target on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Benchmark upped their price objective on FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday. Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of FB Financial in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $64.67.

FB Financial Stock Up 1.0%

NYSE FBK opened at $58.98 on Thursday. FB Financial Corporation has a 52 week low of $46.95 and a 52 week high of $62.37. The company has a market capitalization of $3.04 billion, a P/E ratio of 15.81 and a beta of 0.95. The stock’s 50-day moving average price is $54.11 and its 200-day moving average price is $55.19.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.14. The company had revenue of $175.94 million during the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts anticipate that FB Financial Corporation will post 4.66 EPS for the current year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, May 12th. FB Financial’s dividend payout ratio is presently 22.52%.

FB Financial announced that its Board of Directors has approved a stock buyback plan on Monday, April 27th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

FB Financial Company 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.