Wells Fargo & Company MN Boosts Position in FB Financial Corp (FBK)

Wells Fargo & Company MN increased its stake in FB Financial Corp (NYSE:FBK) by 6.5% during the third quarter, HoldingsChannel.com reports. The firm owned 75,923 shares of the financial services provider’s stock after acquiring an additional 4,633 shares during the period. Wells Fargo & Company MN’s holdings in FB Financial were worth $2,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of FB Financial by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,604 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 105 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in FB Financial by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 21,966 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 114 shares during the period. Advisor Group Inc. raised its holdings in FB Financial by 5.6% during the 2nd quarter. Advisor Group Inc. now owns 8,919 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 475 shares during the period. Victory Capital Management Inc. raised its holdings in FB Financial by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 31,631 shares of the financial services provider’s stock valued at $1,193,000 after acquiring an additional 1,300 shares during the period. Finally, Legal & General Group Plc raised its holdings in FB Financial by 70.9% during the 3rd quarter. Legal & General Group Plc now owns 3,195 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,326 shares during the period. 35.34% of the stock is currently owned by institutional investors.

A number of brokerages have issued reports on FBK. Zacks Investment Research cut shares of FB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 target price on shares of FB Financial in a report on Thursday, October 26th. UBS Group boosted their target price on shares of FB Financial from $41.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. ValuEngine cut shares of FB Financial from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Raymond James Financial began coverage on shares of FB Financial in a report on Tuesday, October 10th. They set an “outperform” rating and a $41.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $42.33.

Shares of FB Financial Corp (FBK) opened at $44.68 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25. FB Financial Corp has a 1-year low of $23.71 and a 1-year high of $45.43. The stock has a market cap of $1,360.00 and a price-to-earnings ratio of 30.60.

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