Salzhauer Michael Buys New Position in FB Financial Co. (NYSE:FBK)

Salzhauer Michael purchased a new position in shares of FB Financial Co. (NYSE:FBK) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 66,520 shares of the financial services provider’s stock, valued at approximately $2,596,000. FB Financial comprises approximately 2.0% of Salzhauer Michael’s investment portfolio, making the stock its 13th largest holding.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of FB Financial by 0.4% during the first quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after acquiring an additional 9,694 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after acquiring an additional 106,553 shares in the last quarter. Wasatch Advisors LP boosted its stake in FB Financial by 13.1% during the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after acquiring an additional 139,395 shares during the last quarter. Janus Henderson Group PLC grew its holdings in FB Financial by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock worth $42,812,000 after acquiring an additional 33,310 shares in the last quarter. Finally, Heartland Advisors Inc. increased its position in shares of FB Financial by 22.0% in the 1st quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after purchasing an additional 57,355 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods lifted their target price on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research report on Thursday, June 27th. Finally, Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.33.

FB Financial Trading Up 3.0 %

Shares of NYSE FBK opened at $46.46 on Monday. FB Financial Co. has a 12-month low of $27.42 and a 12-month high of $48.80. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 19.52 and a beta of 1.13. The stock’s 50 day simple moving average is $44.99 and its 200 day simple moving average is $39.73.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $128.22 million for the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. As a group, equities analysts forecast that FB Financial Co. will post 3.25 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, August 6th. FB Financial’s payout ratio is 28.57%.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.