KLP Kapitalforvaltning AS Buys New Position in FB Financial Co. (NYSE:FBK)

KLP Kapitalforvaltning AS bought a new position in shares of FB Financial Co. (NYSE:FBK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,033 shares of the financial services provider’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in shares of FB Financial in the 3rd quarter worth approximately $47,000. GAMMA Investing LLC boosted its holdings in FB Financial by 45.2% during the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after buying an additional 314 shares in the last quarter. KBC Group NV grew its position in FB Financial by 36.2% in the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after buying an additional 555 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of FB Financial in the third quarter valued at $110,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FB Financial during the 3rd quarter valued at $124,000. 65.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was bought at an average cost of $51.40 per share, with a total value of $102,800.00. Following the completion of the transaction, the insider now directly owns 10,913,841 shares of the company’s stock, valued at approximately $560,971,427.40. The trade was a 0.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 14,000 shares of company stock valued at $710,180 in the last quarter. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

FBK has been the topic of a number of recent research reports. Stephens decreased their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday. Piper Sandler lifted their price target on FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $60.00 to $59.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and an average target price of $55.40.

FB Financial Trading Down 2.7 %

Shares of FBK stock opened at $40.74 on Friday. The stock’s fifty day simple moving average is $49.23 and its 200-day simple moving average is $50.71. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 16.50 and a beta of 1.16. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88.

FB Financial (NYSE:FBK) last released 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 return on equity of 10.43% and a net margin of 15.18%. On average, sell-side analysts predict 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. Shareholders of record on Tuesday, February 11th were given a $0.19 dividend. This is an increase 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 dividend on an annualized basis and a yield of 1.87%. FB Financial’s dividend payout ratio is presently 30.77%.

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.