Charles Schwab Investment Management Inc. grew its stake in FB Financial Co. (NYSE:FBK) by 74.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,209 shares of the financial services provider’s stock after acquiring an additional 85,759 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FB Financial were worth $5,055,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Sailer Financial LLC purchased a new position in FB Financial during the third quarter worth about $26,000. Pinnacle Financial Partners Inc. acquired a new stake in FB Financial during the third quarter worth about $26,000. Bank of Montreal Can increased its stake in FB Financial by 2,067.7% during the second quarter. Bank of Montreal Can now owns 1,409 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 1,344 shares during the last quarter. Provident Wealth Management LLC acquired a new stake in FB Financial during the third quarter worth about $50,000. Finally, UBS Group AG increased its stake in FB Financial by 47.6% during the second quarter. UBS Group AG now owns 2,856 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 921 shares during the last quarter. Institutional investors and hedge funds own 65.54% of the company’s stock.
Several brokerages have commented on FBK. Keefe, Bruyette & Woods lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $30.00 price target for the company. in a research note on Thursday, October 29th. Zacks Investment Research lowered FB Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 14th. Stephens assumed coverage on FB Financial in a research note on Friday, November 6th. They issued an “overweight” rating for the company. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $27.00 to $32.00 in a research note on Thursday, October 29th. Finally, JPMorgan Chase & Co. lowered FB Financial from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $28.00 to $27.00 in a research note on Wednesday, October 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.50.
Shares of FBK stock opened at $34.67 on Friday. FB Financial Co. has a 1 year low of $14.38 and a 1 year high of $40.08. The stock has a market cap of $1.64 billion, a PE ratio of 27.52 and a beta of 1.26. The business’s fifty day moving average is $33.03 and its 200-day moving average is $27.94.
FB Financial (NYSE:FBK) last issued its quarterly earnings results on Saturday, October 31st. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $1.04. FB Financial had a return on equity of 12.36% and a net margin of 7.27%. The company had revenue of $165.85 million for the quarter, compared to analysts’ expectations of $135.80 million. As a group, sell-side analysts predict that FB Financial Co. will post 2.95 EPS for the current year.
In related news, Director James L. Exum sold 2,352 shares of FB Financial stock in a transaction on Friday, December 11th. The stock was sold at an average price of $34.00, for a total value of $79,968.00. Following the transaction, the director now directly owns 4,073 shares in the company, valued at approximately $138,482. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 45.20% of the company’s stock.
FB Financial Profile
FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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