Emerald Mutual Fund Advisers Trust purchased a new position in FB Financial Corporation (NYSE:FBK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 83,204 shares of the financial services provider’s stock, valued at approximately $3,011,000.
Several other institutional investors have also modified their holdings of the company. American International Group Inc. acquired a new position in shares of FB Financial Corporation during the first quarter worth approximately $144,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of FB Financial Corporation during the first quarter worth approximately $179,000. Teachers Advisors LLC acquired a new position in shares of FB Financial Corporation during the fourth quarter worth approximately $190,000. Parkwood LLC acquired a new position in shares of FB Financial Corporation during the first quarter worth approximately $228,000. Finally, Bank of America Corp DE raised its position 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 period. Institutional investors own 21.41% of the company’s stock.
FB Financial Corporation (NYSE:FBK) last announced its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $66.08 million during the quarter, compared to analysts’ expectations of $65.99 million. FB Financial Corporation had a net margin of 11.57% and a return on equity of 13.09%.
A number of equities analysts have recently commented on FBK shares. Stephens reiterated a “buy” rating on shares of FB Financial Corporation in a report on Monday, April 24th. UBS AG restated a “buy” rating and issued a $41.00 target price (down previously from $44.00) on shares of FB Financial Corporation in a report on Wednesday, July 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 report on Friday, July 7th. Sandler O’Neill lowered shares of FB Financial Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, Keefe, Bruyette & Woods lowered 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 report on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. FB Financial Corporation currently has a consensus rating of “Buy” and an average target price of $35.00.
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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