Bank of New York Mellon Corp Boosts Holdings in FB Financial Corp (FBK)

Bank of New York Mellon Corp raised its position in FB Financial Corp (NYSE:FBK) by 94.4% in the 3rd quarter, Holdings Channel reports. The firm owned 51,728 shares of the financial services provider’s stock after buying an additional 25,124 shares during the period. Bank of New York Mellon Corp’s holdings in FB Financial were worth $1,951,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors raised its position in shares of FB Financial by 78.1% during the second quarter. Nationwide Fund Advisors now owns 3,950 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,732 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of FB Financial during the third quarter worth about $202,000. Affinity Investment Advisors LLC bought a new position in shares of FB Financial during the third quarter worth about $258,000. Rhumbline Advisers bought a new position in shares of FB Financial during the second quarter worth about $254,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of FB Financial during the second quarter worth about $258,000. Hedge funds and other institutional investors own 35.34% of the company’s stock.

FBK has been the subject of a number of analyst reports. ValuEngine upgraded FB Financial from a “hold” rating to a “buy” rating in a research report on Monday, September 18th. Zacks Investment Research downgraded FB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Raymond James Financial initiated coverage on FB Financial in a research report on Tuesday, October 10th. They set an “outperform” rating and a $41.00 price objective for the company. UBS Group raised their price objective on FB Financial from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $42.00 price objective on shares of FB Financial in a research report on Thursday, October 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. FB Financial presently has an average rating of “Buy” and an average target price of $42.33.

FB Financial Corp (NYSE:FBK) opened at $43.10 on Tuesday. FB Financial Corp has a 1 year low of $23.71 and a 1 year high of $44.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.83 and a current ratio of 0.95. The stock has a market capitalization of $1,346.24, a PE ratio of 29.32 and a beta of 2.28.

FB Financial (NYSE:FBK) last released its earnings results on Monday, October 23rd. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.47 by $0.13. FB Financial had a return on equity of 11.90% and a net margin of 13.61%. The business had revenue of $81.43 million during the quarter, compared to analysts’ expectations of $76.35 million. research analysts predict that FB Financial Corp will post 2.05 EPS for the current fiscal year.

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FB Financial Company Profile

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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

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