Spark Investment Management LLC maintained its stake in shares of FB Financial Corporation (NYSE:FBK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,100 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC owned about 0.15% of FB Financial Corporation worth $1,270,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in FBK. American International Group Inc. purchased a new stake in shares of FB Financial Corporation during the first quarter valued at approximately $144,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of FB Financial Corporation during the first quarter worth about $179,000. Parkwood LLC bought a new stake in shares of FB Financial Corporation during the first quarter worth about $228,000. Teachers Advisors LLC bought a new stake in shares of FB Financial Corporation during the fourth quarter worth about $190,000. Finally, Bank of America Corp DE increased its stake in shares of FB Financial Corporation by 888.0% in the first quarter. Bank of America Corp DE now owns 9,129 shares of the financial services provider’s stock worth $323,000 after buying an additional 8,205 shares during the last quarter. 22.73% of the stock is currently owned by institutional investors.
FB Financial Corporation (NYSE FBK) traded up 0.09% during midday trading on Friday, hitting $34.02. 96,611 shares of the stock traded hands. The firm has a market cap of $1.04 billion and a PE ratio of 26.72. The company’s 50 day moving average price is $34.64 and its 200 day moving average price is $34.05. FB Financial Corporation has a 12 month low of $19.81 and a 12 month high of $38.59.
FB Financial Corporation (NYSE:FBK) last announced its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. FB Financial Corporation had a return on equity of 11.57% and a net margin of 11.57%. The firm had revenue of $66.08 million for the quarter, compared to analysts’ expectations of $65.99 million. Equities research analysts predict that FB Financial Corporation will post $1.90 earnings per share for the current fiscal year.
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A number of brokerages have recently issued reports on FBK. Sandler O’Neill downgraded shares of FB Financial Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Keefe, Bruyette & Woods cut shares of FB Financial Corporation from an “outperform” rating to a “market perform” rating and set a $35.00 target price on the stock. in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of FB Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Friday, July 7th. Stephens restated a “buy” rating on shares of FB Financial Corporation in a research note on Monday, April 24th. Finally, UBS AG restated a “buy” rating and set a $41.00 target price (down previously from $44.00) on shares of FB Financial Corporation in a research note on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $36.67.
FB Financial Corporation 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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