William Blair Investment Management LLC Makes New Investment in FB Financial Corporation $FBK

William Blair Investment Management LLC bought a new stake in FB Financial Corporation (NYSE:FBK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 483,200 shares of the financial services provider’s stock, valued at approximately $26,963,000.

Several other institutional investors also recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of FB Financial by 2.8% in the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 216 shares in the last quarter. Savant Capital LLC grew its holdings in shares of FB Financial by 5.2% in the third quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 245 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of FB Financial by 6.3% in the third quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 278 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of FB Financial by 5.3% in the fourth quarter. TBH Global Asset Management LLC now owns 5,792 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 292 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 293 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Trading Up 0.1%

FB Financial stock opened at $52.73 on Tuesday. FB Financial Corporation has a 12 month low of $42.29 and a 12 month high of $62.37. The business’s 50 day simple moving average is $53.05 and its 200 day simple moving average is $55.53. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 19.82 and a beta of 0.97.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.01). FB Financial had a net margin of 14.26% and a return on equity of 11.64%. The firm had revenue of $172.71 million during the quarter, compared to analysts’ expectations of $175.45 million. During the same quarter in the previous year, the company posted $0.85 EPS. FB Financial’s revenue for the quarter was up 31.8% on a year-over-year basis. As a group, equities research analysts forecast that FB Financial Corporation will post 4.71 earnings per share for the current fiscal year.

FB Financial declared that its board has approved a stock repurchase plan on Monday, April 27th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 6.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s dividend payout ratio is presently 31.58%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FBK. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price for the company in a report on Tuesday, April 7th. Cantor Fitzgerald set a $65.00 target price on FB Financial in a report on Wednesday, April 15th. Hovde Group reduced their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Keefe, Bruyette & Woods reduced their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, April 15th. Finally, Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, FB Financial has a consensus rating of “Buy” and a consensus price target of $64.00.

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.