Processus Wealth & Capital Management LLC Purchases New Shares in FB Financial Corporation $FBK

Processus Wealth & Capital Management LLC purchased a new position in shares of FB Financial Corporation (NYSE:FBK) in the second quarter, HoldingsChannel.com reports. The firm purchased 12,218 shares of the financial services provider’s stock, valued at approximately $676,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FBK. Northwestern Mutual Wealth Management Co. raised its holdings in shares of FB Financial by 1,690,485.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after buying an additional 3,127,398 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of FB Financial by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock worth $168,417,000 after buying an additional 60,430 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of FB Financial by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock worth $112,592,000 after buying an additional 109,318 shares during the last quarter. Wellington Management Group LLP increased its position in FB Financial by 171.3% in the 4th quarter. Wellington Management Group LLP now owns 1,729,622 shares of the financial services provider’s stock valued at $96,513,000 after acquiring an additional 1,092,126 shares during the period. Finally, State Street Corp increased its position in FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after acquiring an additional 75,951 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Price Performance

Shares of FBK stock opened at $62.05 on Thursday. The business’s fifty day moving average price is $57.17 and its 200 day moving average price is $55.48. The firm has a market capitalization of $3.10 billion, a PE ratio of 16.64 and a beta of 0.94. FB Financial Corporation has a 1-year low of $49.07 and a 1-year high of $62.44.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14. The company had revenue of $175.94 million during the quarter, compared to the consensus estimate of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Equities research analysts expect that FB Financial Corporation will post 4.67 earnings per share for the current fiscal year.

FB Financial declared that its Board of Directors has authorized a stock 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 repurchase up to 6.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is 22.52%.

Analyst Ratings Changes

Several research firms have commented on FBK. Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Hovde Group lowered their target price on FB Financial from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Raymond James Financial boosted their target price on FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. Benchmark upped their price target on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $64.67.

About FB Financial

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.