KLP Kapitalforvaltning AS Has $328,000 Stock Holdings in FB Financial Corporation $FBK

KLP Kapitalforvaltning AS decreased its position in FB Financial Corporation (NYSE:FBK) by 10.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,233 shares of the financial services provider’s stock after selling 800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in FB Financial were worth $328,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in FB Financial during the first quarter valued at about $33,000. GAMMA Investing LLC lifted its holdings in shares of FB Financial by 36.7% in the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock worth $64,000 after buying an additional 370 shares in the last quarter. CWM LLC raised its stake in FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 611 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 290 shares in the last quarter. Finally, Blue Trust Inc. bought a new position in FB Financial during the first quarter valued at approximately $211,000. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Piper Sandler raised their price objective on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday. Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 target price (up previously from $61.00) on shares of FB Financial in a research report on Thursday. Finally, Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.80.

FB Financial Price Performance

Shares of FBK opened at $52.15 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 24.37 and a beta of 0.91. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $60.51. The business’s 50 day simple moving average is $53.94 and its 200-day simple moving average is $47.97.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The company had revenue of $163.71 million during the quarter. On average, sell-side analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial’s payout ratio is 35.51%.

About FB Financial

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.