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

Fmr LLC raised its position in FB Financial Co. (NYSE:FBK) by 42.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,129 shares of the financial services provider’s stock after purchasing an additional 2,109 shares during the period. Fmr LLC’s holdings in FB Financial were worth $335,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of FB Financial by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 1,317 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new stake in FB Financial in the 3rd quarter valued at approximately $406,000. Raymond James Trust N.A. acquired a new stake in FB Financial during the 3rd quarter valued at $201,000. Charles Schwab Investment Management Inc. increased its position in FB Financial by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after buying an additional 14,797 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of FB Financial in the third quarter worth $330,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

FBK 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 business has a 50-day moving average of $53.34 and a two-hundred day moving average of $46.76. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 22.48 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate 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 firm earned $0.71 earnings per share. Equities research analysts anticipate that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a $0.17 dividend. 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 currently 29.69%.

Insider Activity at FB Financial

In other news, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $48.13 per share, for a total transaction of $96,260.00. Following the acquisition, the insider now directly owns 10,902,341 shares in the company, valued at approximately $524,729,672.33. This represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 13,000 shares of company stock worth $658,460. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FBK. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Monday, November 18th. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.20.

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.