Thrivent Financial for Lutherans Has $1.14 Million Stake in FB Financial Co. (NYSE:FBK)

Thrivent Financial for Lutherans lowered its stake in FB Financial Co. (NYSE:FBK) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,255 shares of the financial services provider’s stock after selling 1,223 shares during the period. Thrivent Financial for Lutherans owned 0.06% of FB Financial worth $1,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FBK. SG Americas Securities LLC bought a new position in shares of FB Financial in the 1st quarter valued at $165,000. Renaissance Technologies LLC acquired a new stake in shares of FB Financial during the second quarter valued at about $217,000. ProShare Advisors LLC grew its holdings in shares of FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 494 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,067 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in FB Financial by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock valued at $383,000 after buying an additional 1,424 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Up 3.0 %

FBK stock opened at $46.29 on Friday. FB Financial Co. has a 1-year low of $27.61 and a 1-year high of $49.97. The stock has a 50-day moving average price of $45.80 and a 200-day moving average price of $40.88. The firm has a market cap of $2.18 billion, a PE ratio of 19.45 and a beta of 1.13.

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

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, August 6th. FB Financial’s payout ratio is 28.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut 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, Stephens restated an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, FB Financial 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.