Legato Capital Management LLC Buys Shares of 18,939 FB Financial Corporation $FBK

Legato Capital Management LLC bought a new stake in shares of FB Financial Corporation (NYSE:FBK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 18,939 shares of the financial services provider’s stock, valued at approximately $1,057,000.

A number of other large investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC lifted its position in FB Financial by 2.8% during the 4th quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 216 shares during the period. Savant Capital LLC grew its position in shares of FB Financial by 5.2% during the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock worth $277,000 after buying an additional 245 shares during the period. Mutual of America Capital Management LLC grew its position in shares of FB Financial by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock worth $262,000 after buying an additional 278 shares during the period. TBH Global Asset Management LLC grew its position in shares of FB Financial by 5.3% during the 4th quarter. TBH Global Asset Management LLC now owns 5,792 shares of the financial services provider’s stock worth $323,000 after buying an additional 292 shares during the period. Finally, UMB Bank n.a. grew its position in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after buying an additional 293 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Up 0.1%

FB Financial stock opened at $52.73 on Monday. The firm has a market capitalization of $2.72 billion, a P/E ratio of 19.82 and a beta of 0.97. FB Financial Corporation has a 1 year low of $42.29 and a 1 year high of $62.37. The business has a 50-day moving average of $53.01 and a 200-day moving average of $55.54.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 earnings per share (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 business had revenue of $172.71 million during the quarter, compared to analyst estimates of $175.45 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. FB Financial’s revenue for the quarter was up 31.8% compared to the same quarter last year. Research analysts anticipate that FB Financial Corporation will post 4.71 EPS for the current fiscal year.

FB Financial declared that its Board of Directors has initiated a stock buyback plan on Monday, April 27th that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

FB Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FBK shares. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. Cantor Fitzgerald set a $65.00 target price on FB Financial in a research report on Wednesday, April 15th. Hovde Group decreased their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on FB Financial from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $64.00.

FB Financial Company 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.