Peregrine Capital Management LLC Acquires 7,772 Shares of FB Financial Corporation (NYSE:FBK)

Peregrine Capital Management LLC lifted its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,119 shares of the financial services provider's stock after buying an additional 7,772 shares during the quarter. Peregrine Capital Management LLC owned about 0.28% of FB Financial worth $6,032,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of FBK. TBH Global Asset Management LLC lifted its position in shares of FB Financial by 5.3% during the 1st quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 290 shares during the period. GAMMA Investing LLC grew its holdings in FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after buying an additional 370 shares in the last quarter. Albert D Mason Inc. grew its stake in shares of FB Financial by 1.7% in the 1st quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after acquiring an additional 398 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of FB Financial by 1.6% in the fourth quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock valued at $1,315,000 after purchasing an additional 412 shares during the last quarter. Finally, Summit Global Investments lifted its position in shares of FB Financial by 2.3% during the first quarter. Summit Global Investments now owns 19,255 shares of the financial services provider's stock valued at $893,000 after purchasing an additional 429 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on FBK shares. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and cut their price target for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Piper Sandler dropped their target price on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Stephens decreased their price target on 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, Keefe, Bruyette & Woods decreased their price objective on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.75.

FB Financial Trading Up 1.1%

Shares of NYSE FBK traded up $0.54 during midday trading on Friday, hitting $47.53. The company's stock had a trading volume of 223,654 shares, compared to its average volume of 188,570. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 17.47 and a beta of 0.91. The stock has a fifty day moving average price of $44.27 and a 200 day moving average price of $47.10. FB Financial Corporation has a one year low of $38.00 and a one year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. The business had revenue of $130.67 million for the quarter, compared to analysts' expectations of $132.28 million. FB Financial had a net margin of 16.27% and a return on equity of 10.24%. During the same quarter in the previous year, the firm posted $0.85 EPS. On average, equities research analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.60%. FB Financial's payout ratio is 27.94%.

Insider Activity

In related news, Director James W. Iv Cross bought 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 purchase, the director directly owned 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.90% of the company's stock.

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.