KBC Group NV Has $2.56 Million Stock Position in FB Financial Corporation $FBK

KBC Group NV increased its stake in shares of FB Financial Corporation (NYSE:FBK) by 3,578.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,251 shares of the financial services provider’s stock after acquiring an additional 47,912 shares during the period. KBC Group NV owned about 0.10% of FB Financial worth $2,558,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. increased its position in shares of FB Financial by 3,733.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 5,750 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 5,600 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of FB Financial by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 196,343 shares of the financial services provider’s stock worth $10,198,000 after purchasing an additional 3,935 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of FB Financial by 6,220.1% in the 1st quarter. Fifth Third Bancorp now owns 21,425 shares of the financial services provider’s stock valued at $1,113,000 after buying an additional 21,086 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in shares of FB Financial by 1.2% in the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock valued at $841,000 after buying an additional 190 shares during the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of FB Financial in the first quarter valued at $269,000. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark upped their price target on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Hovde Group decreased their price objective on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Cantor Fitzgerald set a $65.00 price objective on shares of FB Financial in a research note on Wednesday, April 15th. Raymond James Financial upped their target price on shares of FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of “Buy” and a consensus target price of $64.67.

FB Financial Trading Up 1.4%

Shares of NYSE FBK opened at $58.99 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of 15.82 and a beta of 0.95. FB Financial Corporation has a 12 month low of $46.95 and a 12 month high of $62.37. The stock has a 50 day moving average of $55.07 and a 200-day moving average of $55.34.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The business had revenue of $175.94 million for the quarter, compared to analysts’ expectations of $177.45 million. Analysts predict that FB Financial Corporation will post 4.67 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. FB Financial’s dividend payout ratio is presently 22.52%.

FB Financial announced that its Board of Directors has approved a stock repurchase program on Monday, April 27th that authorizes the company to buyback $175.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

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.