FB Financial Corporation $FBK Stock Holdings Lessened by Keystone Financial Group Inc.

Keystone Financial Group Inc. lowered its position in shares of FB Financial Corporation (NYSE:FBK) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,150 shares of the financial services provider’s stock after selling 26,797 shares during the quarter. FB Financial makes up approximately 3.6% of Keystone Financial Group Inc.’s holdings, making the stock its 10th biggest holding. Keystone Financial Group Inc.’s holdings in FB Financial were worth $6,968,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Certuity LLC lifted its holdings in shares of FB Financial by 1,205.7% during the 3rd quarter. Certuity LLC now owns 268,039 shares of the financial services provider’s stock worth $14,940,000 after acquiring an additional 247,511 shares during the period. Dana Investment Advisors Inc. purchased a new position in shares of FB Financial in the 3rd quarter worth $1,682,000. Banc Funds Co. LLC acquired a new stake in FB Financial during the 3rd quarter worth approximately $9,949,000. Artemis Investment Management LLP purchased a new stake in FB Financial during the 4th quarter worth $1,875,000. Finally, Vanguard Group Inc. grew its stake in shares of FB Financial by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock valued at $168,417,000 after buying an additional 60,430 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Trading Up 0.6%

Shares of FBK opened at $55.84 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 20.99 and a beta of 0.95. FB Financial Corporation has a 52 week low of $45.04 and a 52 week high of $62.37. The stock has a 50 day moving average of $53.44 and a 200-day moving average of $55.30.

FB Financial (NYSE:FBK) last announced 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 firm had revenue of $172.71 million for the quarter, compared to the consensus estimate of $175.45 million. FB Financial had a return on equity of 11.64% and a net margin of 14.26%.The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. On average, sell-side analysts predict that FB Financial Corporation will post 4.71 earnings per share for the current fiscal year.

FB Financial declared that its Board of Directors has initiated a share buyback program on Monday, April 27th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Tuesday, May 12th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. FB Financial’s payout ratio is 31.58%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Hovde Group reduced their target price on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. Raymond James Financial upgraded shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, April 7th. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 22nd. Cantor Fitzgerald set a $65.00 price target on FB Financial in a research note on Wednesday, April 15th. Finally, Benchmark assumed coverage on FB Financial in a report on Wednesday. They set a “buy” rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, FB Financial has an average rating of “Buy” and a consensus price target of $64.00.

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.