Envestnet Asset Management Inc. Reduces Position in FB Financial Co. (NYSE:FBK)

Envestnet Asset Management Inc. decreased its position in FB Financial Co. (NYSE:FBK - Free Report) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,717 shares of the financial services provider's stock after selling 19,283 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of FB Financial worth $9,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after acquiring an additional 314 shares during the period. KBC Group NV increased its stake in shares of 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 purchasing an additional 555 shares in the last quarter. LPL Financial LLC bought a new stake in shares of FB Financial in the fourth quarter valued at approximately $206,000. Lbmc Investment Advisors LLC bought a new position in FB Financial in the 4th quarter worth approximately $220,000. Finally, Pinnacle Financial Partners Inc lifted its position in shares of FB Financial by 412.0% during the fourth quarter. Pinnacle Financial Partners Inc now owns 5,253 shares of the financial services provider's stock worth $266,000 after acquiring an additional 4,227 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the company's stock in a transaction dated 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 acquisition, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. This represents a 0.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James W. Iv Cross acquired 7,200 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was acquired at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the acquisition, the director now owns 61,278 shares of the company's stock, 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. In the last ninety days, insiders purchased 15,200 shares of company stock worth $701,468. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FBK. Keefe, Bruyette & Woods decreased their price target on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Piper Sandler cut their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Stephens lowered their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $53.80.

FB Financial Stock Up 0.3 %

Shares of NYSE:FBK traded up $0.14 during midday trading on Thursday, hitting $42.06. 19,779 shares of the stock traded hands, compared to its average volume of 165,478. The stock has a market capitalization of $1.96 billion, a PE ratio of 17.01 and a beta of 0.92. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The business's 50 day moving average is $45.68 and its two-hundred day moving average is $50.09.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The business had revenue of $130.67 million during the quarter, compared to analysts' expectations of $132.28 million. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.19 per share. This is an increase from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, February 11th. FB Financial's payout ratio is presently 27.94%.

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.