Intech Investment Management LLC Invests $330,000 in FB Financial Co. (NYSE:FBK)

Intech Investment Management LLC acquired a new position in shares of FB Financial Co. (NYSE:FBK) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,025 shares of the financial services provider’s stock, valued at approximately $330,000.

Other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of FB Financial during the third quarter worth approximately $84,000. Entropy Technologies LP bought a new stake in shares of FB Financial during the third quarter worth approximately $202,000. Renaissance Technologies LLC bought a new stake in shares of FB Financial during the second quarter worth approximately $217,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,067 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of FB Financial by 7.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 10,141 shares of the financial services provider’s stock valued at $396,000 after buying an additional 722 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of FBK opened at $56.37 on Wednesday. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The company has a market cap of $2.63 billion, a P/E ratio of 24.62 and a beta of 1.15. The firm has a 50 day simple moving average of $51.02 and a two-hundred day simple moving average of $45.30.

FB Financial (NYSE:FBK) last announced its quarterly earnings data 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. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts expect that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 1,500 shares of the stock in a transaction dated Friday, October 18th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the acquisition, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction on 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 represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 13,000 shares of company stock worth $658,460. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research note on Monday, November 18th. Finally, StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.60.

About FB Financial

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.