Millennium Management LLC Acquires 47,761 Shares of FB Financial Co. (NYSE:FBK)

Millennium Management LLC increased its stake in shares of FB Financial Co. (NYSE:FBK - Free Report) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,771 shares of the financial services provider's stock after purchasing an additional 47,761 shares during the quarter. Millennium Management LLC owned approximately 0.68% of FB Financial worth $16,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in FBK. Sterling Capital Management LLC increased its position in FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after purchasing an additional 997 shares in the last quarter. KBC Group NV increased its position in FB Financial by 36.2% during the 4th 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 acquired a new position in FB Financial during the 4th quarter worth approximately $206,000. Covenant Partners LLC acquired a new position in FB Financial during the 4th quarter worth approximately $211,000. Finally, Bank of Montreal Can acquired a new position in FB Financial during the 4th quarter worth approximately $221,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of research analyst reports. Piper Sandler lowered their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price target on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company 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 decreased their price target for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Stephens decreased their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $53.80.

Insider Activity

In other news, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction dated Wednesday, April 16th. The shares were bought at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the purchase, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. The trade was a 0.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company's stock.

FB Financial Stock Down 0.9%

NYSE FBK traded down $0.41 on Friday, hitting $43.60. The company's stock had a trading volume of 258,923 shares, compared to its average volume of 177,728. FB Financial Co. has a 1-year low of $34.50 and a 1-year high of $58.88. The company's 50-day moving average is $43.87 and its 200 day moving average is $49.45. The firm has a market cap of $2.00 billion, a PE ratio of 17.65 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The company had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same period in the prior year, the firm posted $0.85 EPS. On average, equities analysts expect that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial's dividend payout ratio is currently 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.