Bank of America Corp DE decreased its holdings in shares of FB Financial Co. (NYSE:FBK - Free Report) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846,045 shares of the financial services provider's stock after selling 125,767 shares during the quarter. Bank of America Corp DE owned about 1.81% of FB Financial worth $43,580,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of FB Financial by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock valued at $3,134,000 after acquiring an additional 4,918 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of FB Financial by 39.7% during the 4th quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider's stock valued at $1,022,000 after acquiring an additional 5,642 shares in the last quarter. Barclays PLC lifted its holdings in shares of FB Financial by 58.3% during the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock valued at $4,415,000 after acquiring an additional 34,633 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of FB Financial by 136.2% during the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after acquiring an additional 9,570 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of FB Financial by 103.7% during the 3rd quarter. Franklin Resources Inc. now owns 42,182 shares of the financial services provider's stock valued at $2,013,000 after acquiring an additional 21,475 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on FBK. Keefe, Bruyette & Woods dropped their price target on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a research note on Thursday, April 17th. Piper Sandler decreased their price target on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Stephens reduced their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Finally, Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their target price for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, FB Financial has an average rating of "Hold" and a consensus target price of $53.80.
Read Our Latest Research Report on FBK
FB Financial Trading Down 0.4%
Shares of NYSE FBK traded down $0.19 during midday trading on Friday, reaching $45.75. The company's stock had a trading volume of 177,533 shares, compared to its average volume of 176,884. The company has a 50 day moving average price of $44.05 and a 200 day moving average price of $49.65. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 18.52 and a beta of 0.93.
FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. The business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same period in the previous year, the firm earned $0.85 EPS. Research analysts anticipate that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.
FB Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.66%. FB Financial's dividend payout ratio is presently 27.94%.
Insider Buying and Selling at FB Financial
In related news, major shareholder James W. Ayers acquired 2,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the purchase, the insider now owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Iv Cross acquired 7,200 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was bought at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the purchase, the director now owns 61,278 shares in the company, valued at approximately $2,481,146.22. This trade represents a 13.31% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company's stock.
FB Financial Profile
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Free Report)
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.
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