Raymond James Financial Inc. Takes $9.55 Million Position in FB Financial Co. (NYSE:FBK)

Raymond James Financial Inc. acquired a new stake in FB Financial Co. (NYSE:FBK) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 185,331 shares of the financial services provider’s stock, valued at approximately $9,546,000. Raymond James Financial Inc. owned approximately 0.40% of FB Financial as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of FB Financial in the 3rd quarter valued at $47,000. GAMMA Investing LLC increased its stake in shares of FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 314 shares in the last quarter. KBC Group NV increased its stake in FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 555 shares in the last quarter. Point72 DIFC Ltd bought a new stake in FB Financial during the 3rd quarter valued at $110,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in FB Financial during the 3rd quarter valued at $124,000. Institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

NYSE FBK opened at $47.26 on Friday. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 19.13 and a beta of 1.16. The company has a fifty day moving average price of $50.44 and a 200-day moving average price of $50.71.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.19 dividend. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.61%. FB Financial’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

FBK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.60.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $48.51 per share, with a total value of $97,020.00. Following the acquisition, the insider now owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 16,000 shares of company stock worth $813,900 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

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.