Victory Capital Management Inc. Purchases 467 Shares of FB Financial Co. (NYSE:FBK)

Victory Capital Management Inc. grew its position in shares of FB Financial Co. (NYSE:FBK) by 2.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,556 shares of the financial services provider’s stock after acquiring an additional 467 shares during the period. Victory Capital Management Inc.’s holdings in FB Financial were worth $685,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FBK. Louisiana State Employees Retirement System grew its stake in FB Financial by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund Corp grew its position in shares of FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 398 shares during the period. SummerHaven Investment Management LLC grew its position in shares of FB Financial by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 412 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of FB Financial by 2.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock worth $750,000 after acquiring an additional 468 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in FB Financial by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock valued at $4,346,000 after acquiring an additional 482 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 2.8 %

FB Financial stock opened at $47.84 on Friday. FB Financial Co. has a 12 month low of $27.42 and a 12 month high of $49.97. The stock has a fifty day simple moving average of $45.78 and a two-hundred day simple moving average of $40.14. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 20.10 and a beta of 1.13.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $128.22 million during the quarter, compared to the consensus estimate of $123.52 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. On average, equities research analysts forecast that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.42%. FB Financial’s payout ratio is 28.57%.

Analysts Set New Price Targets

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

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.