12,218 Shares in FB Financial Corporation $FBK Bought by Processus Wealth & Capital Management LLC

Processus Wealth & Capital Management LLC purchased a new position in shares of FB Financial Corporation (NYSE:FBK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,218 shares of the financial services provider’s stock, valued at approximately $676,000.

Other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in shares of FB Financial during the fourth quarter worth about $27,000. Assetmark Inc. acquired a new stake in FB Financial in the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new stake in FB Financial in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 795 shares in the last quarter. Finally, State of Wyoming purchased a new position in FB Financial in the first quarter worth approximately $63,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Up 1.1%

Shares of FBK opened at $62.05 on Thursday. The stock has a 50 day moving average price of $57.17 and a 200 day moving average price of $55.48. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 16.64 and a beta of 0.94. FB Financial Corporation has a 52-week low of $49.07 and a 52-week high of $62.44.

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

FB Financial announced that its Board of Directors has authorized a share buyback plan on Monday, April 27th that permits the company to repurchase $175.00 million in 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 usually an indication that the company’s management believes its shares are undervalued.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 11th. FB Financial’s dividend payout ratio (DPR) is currently 22.52%.

Analysts Set New Price Targets

FBK has been the topic of a number of recent analyst reports. Cantor Fitzgerald set a $65.00 price objective on shares of FB Financial in a research report on Wednesday, April 15th. Benchmark lifted their price objective 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. Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Hovde Group lowered their target price on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Finally, Raymond James Financial increased their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, FB Financial presently has an average rating of “Buy” and an average price target of $64.67.

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.