GAMMA Investing LLC Raises Position in FB Financial Co. (NYSE:FBK)

GAMMA Investing LLC grew its stake in FB Financial Co. (NYSE:FBK - Free Report) by 6,237.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,884 shares of the financial services provider's stock after purchasing an additional 62,876 shares during the quarter. GAMMA Investing LLC owned about 0.14% of FB Financial worth $2,962,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FBK. Intech Investment Management LLC increased its stake in shares of FB Financial by 136.2% during the fourth quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after purchasing an additional 9,570 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of FB Financial by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after purchasing an additional 3,492 shares in the last quarter. Summit Global Investments bought a new position in shares of FB Financial in the fourth quarter worth about $970,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in FB Financial by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider's stock worth $1,041,000 after acquiring an additional 790 shares during the period. Finally, Amundi raised its position in shares of FB Financial by 185.9% during the 4th quarter. Amundi now owns 17,611 shares of the financial services provider's stock valued at $885,000 after purchasing an additional 11,452 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Down 0.9%

Shares of FB Financial stock traded down $0.39 on Friday, hitting $43.17. 282,529 shares of the company were exchanged, compared to its average volume of 179,424. The company has a 50-day moving average price of $43.21 and a 200 day moving average price of $48.30. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 17.48 and a beta of 0.91. FB Financial Co. has a 1-year low of $35.33 and a 1-year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting analysts' consensus estimates 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 period in the previous year, the firm posted $0.85 earnings per share. Research analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Tuesday, May 13th. FB Financial's dividend payout ratio (DPR) is currently 27.94%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods decreased their price objective 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 upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Stephens cut their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Finally, Piper Sandler lowered their target price on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One equities research 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.com, FB Financial currently has a consensus rating of "Hold" and a consensus target price of $53.80.

Insiders Place Their Bets

In related news, Director James W. Iv Cross bought 7,200 shares of the stock in a transaction on Wednesday, April 16th. The shares were bought at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now owns 61,278 shares of the company's stock, valued at $2,481,146.22. This represents a 13.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

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.