Voloridge Investment Management LLC Acquires New Position in FB Financial Co. (NYSE:FBK)

Voloridge Investment Management LLC purchased a new position in FB Financial Co. (NYSE:FBK - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 24,859 shares of the financial services provider's stock, valued at approximately $1,280,000. Voloridge Investment Management LLC owned 0.05% of FB Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. raised its holdings in FB Financial by 320.0% during the fourth quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider's stock worth $216,000 after purchasing an additional 3,200 shares in the last quarter. ProShare Advisors LLC boosted its stake in FB Financial by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 10,696 shares of the financial services provider's stock valued at $551,000 after purchasing an additional 3,294 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of FB Financial by 29.0% during the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider's stock valued at $13,383,000 after purchasing an additional 58,402 shares during the period. Millennium Management LLC increased its position in shares of FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock valued at $16,317,000 after purchasing an additional 47,761 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of FB Financial by 4.1% in 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 buying an additional 790 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Down 1.5%

Shares of FB Financial stock traded down $0.64 on Monday, reaching $43.01. 142,271 shares of the company were exchanged, compared to its average volume of 178,128. FB Financial Co. has a fifty-two week low of $34.50 and a fifty-two week high of $58.88. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 17.41 and a beta of 0.93. The stock has a fifty day moving average price of $43.39 and a 200-day moving average price of $48.87.

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

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Tuesday, May 13th. FB Financial's payout ratio is 27.94%.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the acquisition, the insider now directly owns 10,931,841 shares of the company's stock, valued at approximately $530,303,606.91. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FBK has been the subject of several research reports. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods cut 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 report on Thursday, April 17th. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Piper Sandler cut their target price on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.80.

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.