Trustcore Financial Services LLC acquired a new stake in FB Financial Corp (NYSE:FBK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,405 shares of the financial services provider’s stock, valued at approximately $227,000.
A number of other large investors have also recently made changes to their positions in FBK. Penn Capital Management Co. Inc. lifted its position in FB Financial by 167.3% in the fourth quarter. Penn Capital Management Co. Inc. now owns 200,769 shares of the financial services provider’s stock valued at $8,438,000 after purchasing an additional 125,673 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in FB Financial in the third quarter valued at about $3,772,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in FB Financial in the fourth quarter valued at about $4,150,000. BlackRock Inc. lifted its position in FB Financial by 13.2% in the fourth quarter. BlackRock Inc. now owns 709,517 shares of the financial services provider’s stock valued at $29,792,000 after purchasing an additional 82,755 shares during the period. Finally, CapWealth Advisors LLC lifted its position in FB Financial by 24.0% in the third quarter. CapWealth Advisors LLC now owns 255,167 shares of the financial services provider’s stock valued at $9,625,000 after purchasing an additional 49,419 shares during the period. Hedge funds and other institutional investors own 36.45% of the company’s stock.
FB Financial Corp (FBK) opened at $41.50 on Tuesday. FB Financial Corp has a 1-year low of $30.40 and a 1-year high of $45.43. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.95 and a quick ratio of 0.83. The stock has a market cap of $1,267.22, a PE ratio of 22.55 and a beta of 1.11.
A number of equities research analysts recently commented on FBK shares. Zacks Investment Research upgraded shares of FB Financial from a “sell” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Friday, October 27th. ValuEngine cut shares of FB Financial from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $42.00 target price on shares of FB Financial in a report on Thursday, October 26th. Finally, UBS Group increased 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. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. FB Financial currently has an average rating of “Buy” and an average target price of $42.33.
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FB Financial 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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