Public Sector Pension Investment Board Acquires 5,551 Shares of FB Financial Co. (NYSE:FBK)

Public Sector Pension Investment Board boosted its holdings in shares of FB Financial Co. (NYSE:FBK) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,563 shares of the financial services provider’s stock after purchasing an additional 5,551 shares during the quarter. Public Sector Pension Investment Board owned about 0.17% of FB Financial worth $3,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its stake in FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after acquiring an additional 139,395 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after buying an additional 106,553 shares in the last quarter. Salzhauer Michael bought a new stake in FB Financial in the 2nd quarter worth approximately $2,596,000. Quest Partners LLC bought a new position in shares of FB Financial during the 2nd quarter valued at approximately $450,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of FB Financial by 7.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 30,315 shares of the financial services provider’s stock valued at $1,142,000 after purchasing an additional 2,103 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 0.4 %

NYSE FBK opened at $46.18 on Friday. The stock has a market cap of $2.17 billion, a PE ratio of 19.40 and a beta of 1.13. FB Financial Co. has a 12 month low of $27.42 and a 12 month high of $49.97. The company’s 50-day moving average price is $45.92 and its 200-day moving average price is $40.46.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $128.22 million for the quarter, compared to analyst estimates of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. As a group, sell-side analysts forecast that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. FB Financial’s dividend payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on FBK. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. JPMorgan Chase & Co. dropped their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial currently has an average rating of “Hold” and a consensus target price of $42.33.

FB Financial Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.