Rhumbline Advisers Invests $254,000 in FB Financial Corporation (FBK)

Rhumbline Advisers bought a new stake in FB Financial Corporation (NYSE:FBK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,023 shares of the financial services provider’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. RE Advisers Corp lifted its holdings in shares of FB Financial Corporation by 1.2% in the second quarter. RE Advisers Corp now owns 610,975 shares of the financial services provider’s stock valued at $22,111,000 after purchasing an additional 7,500 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of FB Financial Corporation in the first quarter valued at $9,614,000. Vanguard Group Inc. lifted its holdings in shares of FB Financial Corporation by 35.5% in the first quarter. Vanguard Group Inc. now owns 262,065 shares of the financial services provider’s stock valued at $9,267,000 after purchasing an additional 68,670 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of FB Financial Corporation in the second quarter valued at $3,011,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of FB Financial Corporation by 14.8% in the first quarter. Wells Fargo & Company MN now owns 68,237 shares of the financial services provider’s stock valued at $2,413,000 after purchasing an additional 8,774 shares in the last quarter. Institutional investors own 31.86% of the company’s stock.

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A number of research firms have recently issued reports on FBK. Zacks Investment Research lowered FB Financial Corporation from a “hold” rating to a “sell” rating in a report on Monday. UBS AG restated a “buy” rating and issued a $41.00 target price (down previously from $44.00) on shares of FB Financial Corporation in a report on Wednesday, July 26th. Sandler O’Neill upgraded FB Financial Corporation from a “hold” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $39.00 in a report on Tuesday, August 15th. Raymond James Financial, Inc. began coverage on FB Financial Corporation in a report on Tuesday. They set an “outperform” rating and a $41.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 price objective on shares of FB Financial Corporation in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $39.67.

FB Financial Corporation (NYSE:FBK) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The business had revenue of $66.08 million for the quarter, compared to analysts’ expectations of $65.99 million. FB Financial Corporation had a net margin of 11.57% and a return on equity of 11.57%.

FB Financial Corporation Profile

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

Institutional Ownership by Quarter for FB Financial Corporation (NYSE:FBK)

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