Cwm LLC Purchases 611 Shares of FB Financial Corporation (NYSE:FBK)

Cwm LLC lifted its holdings in shares of FB Financial Corporation (NYSE:FBK) by 58.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,660 shares of the financial services provider’s stock after buying an additional 611 shares during the quarter. Cwm LLC’s holdings in FB Financial were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FBK. Nisa Investment Advisors LLC lifted its stake in FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider’s stock valued at $202,000 after buying an additional 290 shares during the period. Envestnet Asset Management Inc. raised its position in shares of FB Financial by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider’s stock valued at $8,924,000 after acquiring an additional 3,779 shares during the period. Principal Financial Group Inc. boosted its stake in FB Financial by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 192,645 shares of the financial services provider’s stock worth $8,931,000 after acquiring an additional 6,444 shares during the last quarter. Peregrine Capital Management LLC raised its holdings in FB Financial by 6.4% in the first quarter. Peregrine Capital Management LLC now owns 130,119 shares of the financial services provider’s stock worth $6,032,000 after purchasing an additional 7,772 shares during the period. Finally, TBH Global Asset Management LLC boosted its position in shares of FB Financial by 5.3% during the first quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 290 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on FBK. Wall Street Zen cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Finally, Piper Sandler dropped their price target on FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, FB Financial has a consensus rating of “Moderate Buy” and an average target price of $58.25.

FB Financial Stock Down 2.5%

Shares of NYSE:FBK opened at $47.53 on Friday. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 24.63 and a beta of 0.92. FB Financial Corporation has a 12 month low of $38.83 and a 12 month high of $58.88. The company’s fifty day simple moving average is $45.87 and its 200 day simple moving average is $46.67.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The firm had revenue of $76.86 million for the quarter, compared to the consensus estimate of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. Research analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial’s dividend payout ratio (DPR) is currently 39.38%.

About FB Financial

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.