Legal & General Group Plc Buys Shares of 91,319 FB Financial Corporation $FBK

Legal & General Group Plc acquired a new stake in shares of FB Financial Corporation (NYSE:FBK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 91,319 shares of the financial services provider’s stock, valued at approximately $5,055,000.

Several other hedge funds have also bought and sold shares of FBK. CIBC Private Wealth Group LLC purchased a new stake in shares of FB Financial during the 4th quarter valued at $27,000. Global Retirement Partners LLC purchased a new position in shares of FB Financial during the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC boosted its stake 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 worth $39,000 after buying an additional 795 shares in the last quarter. State of Wyoming purchased a new position in shares of FB Financial during the first quarter worth approximately $63,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of FB Financial in the 3rd quarter valued at $75,000. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FBK shares. Raymond James Financial boosted their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 1st. Benchmark lifted their price target on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, FB Financial has an average rating of “Buy” and a consensus price target of $64.67.

FB Financial Stock Performance

Shares of FB Financial stock opened at $56.92 on Friday. The stock has a market cap of $2.84 billion, a P/E ratio of 15.26 and a beta of 0.92. The stock’s fifty day moving average is $58.65 and its 200 day moving average is $55.41. FB Financial Corporation has a one year low of $49.24 and a one year high of $62.65.

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

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is presently 22.52%.

About FB Financial

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.