Swiss National Bank Sells 400 Shares of FB Financial Co. (NYSE:FBK)

Swiss National Bank lowered its stake in shares of FB Financial Co. (NYSE:FBK) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,383 shares of the financial services provider’s stock after selling 400 shares during the quarter. Swiss National Bank owned about 0.16% of FB Financial worth $3,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its stake in FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock valued at $57,529,000 after buying an additional 55,071 shares during the last quarter. Geode Capital Management LLC boosted its holdings in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after acquiring an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of FB Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock valued at $19,383,000 after purchasing an additional 2,943 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of FB Financial by 1.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock worth $12,067,000 after purchasing an additional 4,435 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of FB Financial by 3.7% during the 4th quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider’s stock worth $9,591,000 after purchasing an additional 6,612 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the transaction, the insider now directly owns 10,919,841 shares of the company’s stock, valued at $573,946,842.96. This trade represents a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders purchased 14,000 shares of company stock worth $710,180 in the last 90 days. 1.70% of the stock is owned by company insiders.

FB Financial Price Performance

Shares of FBK stock opened at $48.02 on Wednesday. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The stock has a fifty day moving average price of $50.36 and a 200 day moving average price of $50.79. The stock has a market cap of $2.24 billion, a P/E ratio of 19.44 and a beta of 1.16.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.58%. FB Financial’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

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

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.