GAMMA Investing LLC Buys 314 Shares of FB Financial Co. (NYSE:FBK)

GAMMA Investing LLC grew its holdings in FB Financial Co. (NYSE:FBK) by 45.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,008 shares of the financial services provider’s stock after purchasing an additional 314 shares during the quarter. GAMMA Investing LLC’s holdings in FB Financial were worth $52,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of FB Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock valued at $3,134,000 after purchasing an additional 4,918 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of FB Financial by 103.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,182 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 21,475 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of FB Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after purchasing an additional 7,021 shares during the last quarter. Barclays PLC boosted its stake in shares of FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after purchasing an additional 34,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of FB Financial in the 3rd quarter valued at about $346,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FBK stock opened at $49.54 on Tuesday. The company has a market capitalization of $2.31 billion, a P/E ratio of 21.63 and a beta of 1.16. The company’s 50 day moving average price is $54.02 and its two-hundred day moving average price is $48.57. FB Financial Co. has a 52 week low of $33.35 and a 52 week high of $58.88.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $169.13 million for 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 last year, the company posted $0.71 EPS. Analysts forecast 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. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.37%. FB Financial’s dividend payout ratio (DPR) is currently 29.69%.

Insiders Place Their Bets

In other news, Director James W. Iv Cross sold 5,000 shares of FB Financial stock in a transaction that occurred 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 sale, the director now directly owns 54,078 shares in the company, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James W. Ayers acquired 1,500 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 21,000 shares of company stock worth $1,062,420. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

FBK has been the topic of several recent research reports. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. Keefe, Bruyette & Woods lifted their price objective on shares of 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, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.