CapWealth Advisors LLC Increases Stock Holdings in FB Financial Corporation $FBK

CapWealth Advisors LLC lifted its stake in shares of FB Financial Corporation (NYSE:FBK) by 3,756.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,752 shares of the financial services provider’s stock after purchasing an additional 323,150 shares during the quarter. FB Financial comprises approximately 1.7% of CapWealth Advisors LLC’s portfolio, making the stock its 25th biggest position. CapWealth Advisors LLC owned about 0.62% of FB Financial worth $18,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FBK. GAMMA Investing LLC raised its position in FB Financial by 24.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock worth $109,000 after buying an additional 387 shares during the last quarter. Investors Research Corp acquired a new position in shares of FB Financial during the third quarter worth about $26,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in FB Financial by 5.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,848 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 473 shares in the last quarter. California State Teachers Retirement System lifted its position in FB Financial by 1.5% in the second quarter. California State Teachers Retirement System now owns 34,331 shares of the financial services provider’s stock valued at $1,555,000 after purchasing an additional 503 shares during the period. Finally, Tripletail Wealth Management LLC acquired a new stake in FB Financial in the third quarter valued at about $31,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

FB Financial Stock Performance

FBK opened at $55.81 on Friday. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $60.51. The company’s 50 day simple moving average is $55.85 and its 200 day simple moving average is $52.67. The stock has a market capitalization of $2.98 billion, a PE ratio of 26.08 and a beta of 0.98.

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

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. FB Financial’s dividend payout ratio is presently 35.51%.

FB Financial 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.