Fmr LLC Grows Stock Position in FB Financial Co. (NYSE:FBK)

Fmr LLC raised its position in FB Financial Co. (NYSE:FBK) by 42.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,129 shares of the financial services provider’s stock after acquiring an additional 2,109 shares during the quarter. Fmr LLC’s holdings in FB Financial were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FBK. nVerses Capital LLC acquired a new position in shares of FB Financial in the third quarter worth about $84,000. Raymond James Trust N.A. purchased a new stake in FB Financial during the 3rd quarter worth approximately $201,000. Entropy Technologies LP acquired a new position in shares of FB Financial in the 3rd quarter valued at approximately $202,000. Renaissance Technologies LLC purchased a new position in shares of FB Financial during the 2nd quarter valued at approximately $217,000. Finally, Intech Investment Management LLC acquired a new stake in shares of FB Financial during the third quarter worth approximately $330,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

FB Financial stock opened at $51.48 on Friday. FB Financial Co. has a 12 month low of $33.35 and a 12 month high of $58.88. The company has a fifty day moving average price of $53.34 and a two-hundred day moving average price of $46.76. The company has a market cap of $2.40 billion, a PE ratio of 22.48 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the previous year, the business posted $0.71 EPS. Equities research analysts anticipate that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Monday, November 18th. Finally, StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.20.

Insider Transactions at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Monday, October 21st. The stock was acquired at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the transaction, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the sale, the director now directly owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 13,000 shares of company stock worth $658,460. 1.70% of the stock is currently owned by company insiders.

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.