KBC Group NV Has $2.56 Million Holdings in FB Financial Corporation $FBK

KBC Group NV raised its position in shares of FB Financial Corporation (NYSE:FBK) by 3,578.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,251 shares of the financial services provider’s stock after acquiring an additional 47,912 shares during the period. KBC Group NV’s holdings in FB Financial were worth $2,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after purchasing an additional 11,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 930 shares during the period. Millennium Management LLC grew its holdings in FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after buying an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in FB Financial in the 1st quarter valued at $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in FB Financial by 39.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after buying an additional 22,662 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of NYSE FBK opened at $58.99 on Friday. The business has a fifty day moving average price of $55.07 and a two-hundred day moving average price of $55.34. The stock has a market capitalization of $3.04 billion, a PE ratio of 15.82 and a beta of 0.95. FB Financial Corporation has a fifty-two week low of $46.95 and a fifty-two week high of $62.37.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The company had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. On average, equities analysts expect that FB Financial Corporation will post 4.67 EPS for the current year.

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

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 11th. FB Financial’s dividend payout ratio is presently 22.52%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FBK shares. Cantor Fitzgerald set a $65.00 target price on shares of FB Financial in a research report on Wednesday, April 15th. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target on the stock in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Hovde Group cut their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Finally, Benchmark raised their target price on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial currently has an average rating of “Buy” and a consensus target price of $64.67.

About FB Financial

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.