Thrivent Financial for Lutherans Buys 1,887 Shares of FB Financial Co. (NYSE:FBK)

Thrivent Financial for Lutherans grew its stake in FB Financial Co. (NYSE:FBK) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,489 shares of the financial services provider’s stock after purchasing an additional 1,887 shares during the quarter. Thrivent Financial for Lutherans’ holdings in FB Financial were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors increased its stake in shares of FB Financial by 1,593.8% in the 1st quarter. Captrust Financial Advisors now owns 1,101 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,036 shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of FB Financial by 30.1% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,111 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 489 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of FB Financial by 38.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,357 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 653 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of FB Financial by 14.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 4,780 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 618 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of FB Financial in the 1st quarter worth about $233,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

FBK has been the subject of several research reports. TheStreet upgraded shares of FB Financial from a “c+” rating to a “b-” rating in a research note on Monday, August 30th. Zacks Investment Research lowered shares of FB Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 4th. Finally, Truist increased their price target on shares of FB Financial from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, FB Financial has a consensus rating of “Buy” and a consensus target price of $49.00.

NYSE:FBK opened at $46.18 on Thursday. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 11.87 and a beta of 1.16. FB Financial Co. has a fifty-two week low of $31.91 and a fifty-two week high of $49.62. The company’s 50-day moving average price is $44.28.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Sunday, October 17th. The financial services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.13. FB Financial had a net margin of 29.15% and a return on equity of 14.27%. During the same quarter last year, the company posted $1.46 earnings per share. Analysts predict that FB Financial Co. will post 3.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 22nd. Shareholders of record on Monday, November 8th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, November 5th. This represents a $0.44 dividend on an annualized basis and a yield of 0.95%. FB Financial’s dividend payout ratio is currently 11.31%.

FB Financial Company Profile

FB Financial Corp. is a bank holding company, which provides commercial and consumer banking services to clients in select markets primarily in Tennessee, North Alabama, and North Georgia through its subsidiary. It operates through the Banking and Mortgage segments. The Banking segments deals with interest on loans and investments, loan-related fees, originations in banking footprint, investment services, and deposit-related fees.

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Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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