Geode Capital Management LLC Raises Stake in FB Financial Co. (NYSE:FBK)

Geode Capital Management LLC boosted its holdings in FB Financial Co. (NYSE:FBK) by 0.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 815,361 shares of the financial services provider’s stock after purchasing an additional 7,021 shares during the quarter. Geode Capital Management LLC owned about 1.75% of FB Financial worth $38,272,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in FB Financial during the 3rd quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of FB Financial in the third quarter worth $84,000. Point72 DIFC Ltd bought a new position in shares of FB Financial during the third quarter valued at $110,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of FB Financial in the 3rd quarter worth about $124,000. Finally, Raymond James Trust N.A. bought a new position in FB Financial in the 3rd quarter worth about $201,000. Institutional investors own 65.40% of the company’s stock.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 1,500 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the purchase, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. The trade was a 0.01 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now directly owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 15,000 shares of company stock worth $762,180. 1.70% of the stock is owned by company insiders.

FB Financial Trading Up 1.0 %

Shares of FBK opened at $52.35 on Wednesday. The firm has a market cap of $2.44 billion, a PE ratio of 22.86 and a beta of 1.15. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88. The firm has a fifty day simple moving average of $53.42 and a two-hundred day simple moving average of $47.02.

FB Financial (NYSE:FBK) last posted its quarterly earnings data 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 company had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, research analysts forecast that FB Financial Co. will post 3.38 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is presently 29.69%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FBK. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods boosted their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a report on Monday, November 18th. 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.20.

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.