Salzhauer Michael Purchases Shares of 66,520 FB Financial Co. (NYSE:FBK)

Salzhauer Michael acquired a new position in shares of FB Financial Co. (NYSE:FBK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 66,520 shares of the financial services provider’s stock, valued at approximately $2,596,000. FB Financial makes up approximately 2.0% of Salzhauer Michael’s investment portfolio, making the stock its 13th largest position. Salzhauer Michael owned about 0.14% of FB Financial as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FBK. Quadrant Capital Group LLC increased its position in FB Financial by 85.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock worth $145,000 after buying an additional 1,679 shares in the last quarter. SG Americas Securities LLC acquired a new position in FB Financial in the 1st quarter valued at about $165,000. ProShare Advisors LLC lifted its holdings in FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 494 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of FB Financial by 17.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of FB Financial during the first quarter worth about $316,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Up 3.0 %

Shares of FBK opened at $46.46 on Monday. FB Financial Co. has a twelve month low of $27.42 and a twelve month high of $48.80. The firm has a market capitalization of $2.18 billion, a P/E ratio of 19.52 and a beta of 1.13. The stock’s fifty day simple moving average is $44.99 and its 200 day simple moving average is $39.73.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. The company had revenue of $128.22 million for the quarter, compared to the consensus estimate of $123.52 million. Sell-side analysts predict that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a yield of 1.46%. FB Financial’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on FBK shares. Stephens reissued an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their target price on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.33.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.