Allspring Global Investments Holdings LLC Purchases 47,278 Shares of FB Financial Corporation $FBK

Allspring Global Investments Holdings LLC lifted its position in shares of FB Financial Corporation (NYSE:FBK) by 21.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 266,327 shares of the financial services provider’s stock after buying an additional 47,278 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in FB Financial were worth $14,845,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Deprince Race & Zollo Inc. bought a new stake in FB Financial during the third quarter valued at about $48,674,000. Qube Research & Technologies Ltd boosted its stake in shares of FB Financial by 61.8% in the second quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock worth $14,295,000 after acquiring an additional 120,561 shares during the period. Keystone Financial Group Inc. grew its position in shares of FB Financial by 229.7% during the third quarter. Keystone Financial Group Inc. now owns 167,152 shares of the financial services provider’s stock worth $9,317,000 after purchasing an additional 116,459 shares in the last quarter. Marshall Wace LLP raised its stake in FB Financial by 130.8% during the 2nd quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider’s stock valued at $6,382,000 after purchasing an additional 79,841 shares during the period. Finally, State Street Corp lifted its holdings 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 worth $73,437,000 after purchasing an additional 75,951 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FBK. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $66.00 price objective (up from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Piper Sandler raised their target price on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.80.

FB Financial Stock Performance

FBK stock opened at $56.09 on Monday. The firm has a fifty day moving average price of $55.85 and a 200 day moving average price of $52.90. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $60.51. The firm has a market cap of $3.00 billion, a PE ratio of 26.21 and a beta of 0.98.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. The business had revenue of $163.71 million during the quarter. On average, equities analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a $0.19 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.76 annualized dividend and a yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is currently 35.51%.

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.