Deprince Race & Zollo Inc. Purchases Shares of 873,227 FB Financial Corporation $FBK

Deprince Race & Zollo Inc. acquired a new position in shares of FB Financial Corporation (NYSE:FBK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 873,227 shares of the financial services provider’s stock, valued at approximately $48,674,000. FB Financial accounts for about 1.0% of Deprince Race & Zollo Inc.’s holdings, making the stock its 25th biggest position. Deprince Race & Zollo Inc. owned about 1.62% of FB Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of FBK. Qube Research & Technologies Ltd grew its holdings in FB Financial by 61.8% in the second quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock worth $14,295,000 after purchasing an additional 120,561 shares during the period. Marshall Wace LLP boosted its position in shares of FB Financial by 130.8% during the 2nd quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider’s stock worth $6,382,000 after purchasing an additional 79,841 shares in the last quarter. State Street Corp grew its stake in shares of FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after buying an additional 75,951 shares during the period. AQR Capital Management LLC increased its position in FB Financial by 94.3% in the 2nd quarter. AQR Capital Management LLC now owns 115,352 shares of the financial services provider’s stock valued at $5,225,000 after buying an additional 55,980 shares in the last quarter. Finally, Keystone Financial Group Inc. acquired a new position in FB Financial during the 2nd quarter worth approximately $2,473,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FBK. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Cantor Fitzgerald restated an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Finally, Piper Sandler lifted their price objective on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

FB Financial Trading Down 0.3%

Shares of NYSE:FBK opened at $56.86 on Friday. The stock has a market cap of $3.04 billion, a PE ratio of 26.57 and a beta of 0.99. The stock’s fifty day simple moving average is $55.69 and its two-hundred day simple moving average is $52.38. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $60.51.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The firm had revenue of $163.71 million during the quarter. On average, sell-side analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a $0.19 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.76 annualized dividend and a yield of 1.3%. FB Financial’s dividend payout ratio (DPR) is 35.51%.

About FB Financial

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.