State of Alaska Department of Revenue Raises Position in FB Financial Corporation $FBK

State of Alaska Department of Revenue boosted its position in shares of FB Financial Corporation (NYSE:FBK) by 5.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,518 shares of the financial services provider’s stock after buying an additional 1,126 shares during the period. State of Alaska Department of Revenue’s holdings in FB Financial were worth $929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FBK. Meeder Asset Management Inc. purchased a new stake in shares of FB Financial during the first quarter worth approximately $33,000. GAMMA Investing LLC boosted its stake in FB Financial by 36.7% during the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 370 shares during the last quarter. CWM LLC grew its holdings in shares of FB Financial by 58.2% during the first quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock worth $77,000 after buying an additional 611 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of 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 last quarter. Finally, Blue Trust Inc. acquired a new position in FB Financial during the first quarter worth about $211,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

FB Financial stock opened at $58.35 on Monday. The company has a market capitalization of $3.14 billion, a PE ratio of 30.23 and a beta of 0.91. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The firm has a 50 day moving average price of $52.26 and a 200 day moving average price of $47.28.

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

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial’s dividend payout ratio is currently 39.38%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FBK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a report on Saturday, September 27th. Cantor Fitzgerald initiated coverage on FB Financial in a research report on Wednesday, September 10th. They set an “overweight” rating and a $61.00 price objective on the stock. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Finally, Wall Street Zen lowered FB Financial from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.80.

FB Financial Company 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.