Swiss National Bank Takes Position in FB Financial Corporation (FBK)
Swiss National Bank acquired a new position in FB Financial Corporation (NYSE:FBK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 12,100 shares of the financial services provider’s stock, valued at approximately $438,000.
Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in FB Financial Corporation by 888.0% in the 1st quarter. Bank of America Corp DE now owns 9,129 shares of the financial services provider’s stock worth $323,000 after buying an additional 8,205 shares during the last quarter. Prudential Financial Inc. acquired a new stake in FB Financial Corporation in the 2nd quarter worth about $536,000. Vanguard Group Inc. boosted its holdings in FB Financial Corporation by 35.5% in the 1st quarter. Vanguard Group Inc. now owns 262,065 shares of the financial services provider’s stock worth $9,267,000 after buying an additional 68,670 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in FB Financial Corporation in the 1st quarter worth about $728,000. Finally, Stieven Capital Advisors L.P. acquired a new stake in FB Financial Corporation in the 2nd quarter worth about $6,333,000. Institutional investors own 31.90% of the company’s stock.
Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $42.00 price objective on shares of FB Financial Corporation in a report on Thursday. Zacks Investment Research cut FB Financial Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stephens reiterated a “buy” rating and issued a $40.00 price objective on shares of FB Financial Corporation in a report on Monday, July 31st. UBS AG reiterated a “buy” rating and issued a $41.00 price objective (down from $44.00) on shares of FB Financial Corporation in a report on Wednesday, July 26th. Finally, Sandler O’Neill upgraded FB Financial Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $39.00 in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. FB Financial Corporation presently has an average rating of “Buy” and a consensus target price of $41.33.
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Shares of FB Financial Corporation (FBK) opened at 40.75 on Friday. The firm has a market capitalization of $1.24 billion and a PE ratio of 32.01. FB Financial Corporation has a 12-month low of $20.25 and a 12-month high of $40.78. The company has a 50-day moving average price of $37.33 and a 200 day moving average price of $37.33.
FB Financial Corporation (NYSE:FBK) last issued its earnings results on Monday, October 23rd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.13. FB Financial Corporation had a net margin of 13.61% and a return on equity of 13.25%. The company had revenue of $81.43 million during the quarter, compared to analysts’ expectations of $76.35 million. On average, equities analysts expect that FB Financial Corporation will post $2.04 earnings per share for the current year.
About FB Financial Corporation
FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.
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