Allspring Global Investments Holdings LLC Acquires 15,739 Shares of FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC lifted its holdings in shares of FB Financial Co. (NYSE:FBK) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,829 shares of the financial services provider’s stock after buying an additional 15,739 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.49% of FB Financial worth $10,786,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in FB Financial by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 2,454,601 shares of the financial services provider’s stock valued at $97,816,000 after buying an additional 49,313 shares in the last quarter. Wasatch Advisors LP grew its stake in FB Financial by 13.1% during the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock valued at $45,172,000 after acquiring an additional 139,395 shares in the last quarter. Principal Financial Group Inc. increased its holdings in FB Financial by 7.3% during the 1st quarter. Principal Financial Group Inc. now owns 196,464 shares of the financial services provider’s stock worth $7,399,000 after acquiring an additional 13,306 shares during the period. BNP Paribas Financial Markets lifted its stake in FB Financial by 73.6% in the 1st quarter. BNP Paribas Financial Markets now owns 18,029 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 7,643 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 398 shares during the period. 65.40% of the stock is owned by institutional investors.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the stock in a transaction on Friday, October 18th. The stock was acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the purchase, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder James W. Ayers purchased 1,500 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the purchase, the insider now directly owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were bought at an average cost of $48.17 per share, with a total value of $96,340.00. Following the purchase, the insider now owns 10,894,341 shares of the company’s stock, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 7,500 shares of company stock valued at $363,830. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Hovde Group upped their price target on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lifted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Finally, Stephens reiterated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $47.80.

FB Financial Trading Down 1.8 %

FBK opened at $47.79 on Friday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 20.87 and a beta of 1.13. The stock has a 50-day moving average price of $46.92 and a 200-day moving average price of $42.02. FB Financial Co. has a 12-month low of $28.58 and a 12-month high of $51.40.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.71 earnings per share. On average, equities research analysts predict that FB Financial Co. will post 3.34 EPS for the current year.

FB Financial 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.