Keystone Financial Group Inc. Sells 26,797 Shares of FB Financial Corporation $FBK

Keystone Financial Group Inc. lessened its stake in FB Financial Corporation (NYSE:FBK) by 16.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 134,150 shares of the financial services provider’s stock after selling 26,797 shares during the quarter. FB Financial accounts for approximately 3.6% of Keystone Financial Group Inc.’s portfolio, making the stock its 10th biggest position. Keystone Financial Group Inc. owned approximately 0.26% of FB Financial worth $6,968,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FBK. CIBC Private Wealth Group LLC acquired a new stake in FB Financial in the fourth quarter valued at approximately $27,000. Assetmark Inc. purchased a new stake in shares of FB Financial in the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new stake in shares of FB Financial in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in shares of FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 795 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of FB Financial during the 3rd quarter worth $75,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FBK shares. Raymond James Financial raised FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price on the stock in a report on Tuesday, April 7th. Weiss Ratings upgraded FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald set a $65.00 target price on FB Financial in a research report on Wednesday, April 15th. Benchmark started coverage on FB Financial in a research note on Wednesday. They set a “buy” rating and a $64.00 target price for the company. Finally, Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $64.00.

FB Financial Stock Up 0.6%

FBK opened at $55.84 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 20.99 and a beta of 0.95. FB Financial Corporation has a 52 week low of $45.04 and a 52 week high of $62.37. The business’s 50 day moving average is $53.44 and its two-hundred day moving average is $55.30.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). The firm had revenue of $172.71 million during the quarter, compared to analyst estimates of $175.45 million. FB Financial had a net margin of 14.26% and a return on equity of 11.64%. FB Financial’s revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 earnings per share. Equities analysts expect that FB Financial Corporation will post 4.71 EPS for the current fiscal year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Tuesday, May 12th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 12th. FB Financial’s dividend payout ratio (DPR) is 31.58%.

FB Financial announced that its board has approved a share repurchase program on Monday, April 27th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

FB Financial Company Profile

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.