Geode Capital Management LLC Has $41.44 Million Holdings in FB Financial Co. (NYSE:FBK)

Geode Capital Management LLC cut its holdings in shares of FB Financial Co. (NYSE:FBK - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 804,373 shares of the financial services provider's stock after selling 10,988 shares during the period. Geode Capital Management LLC owned approximately 1.72% of FB Financial worth $41,443,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FBK. JPMorgan Chase & Co. boosted its position in FB Financial by 293.8% during the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock worth $13,544,000 after acquiring an additional 196,172 shares during the period. Raymond James Financial Inc. acquired a new stake in FB Financial in the fourth quarter worth about $9,546,000. 12th Street Asset Management Company LLC grew its position in FB Financial by 65.2% in the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider's stock valued at $10,163,000 after buying an additional 77,885 shares in the last quarter. Jane Street Group LLC raised its position in shares of FB Financial by 120.6% during the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider's stock worth $3,355,000 after buying an additional 39,086 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock worth $4,415,000 after acquiring an additional 34,633 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, 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 cost of $40.49 per share, for a total transaction of $291,528.00. Following the acquisition, the director now directly owns 61,278 shares in the company, valued at approximately $2,481,146.22. The trade was a 13.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company's stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the transaction, the insider now owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. The trade was a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 15,200 shares of company stock worth $701,468. 1.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

FBK has been the topic of a number of research analyst reports. StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Stephens dropped their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. 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. Keefe, Bruyette & Woods lowered their target price on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a report on Thursday. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, FB Financial presently has a consensus rating of "Hold" and a consensus target price of $53.80.

FB Financial Stock Up 0.2 %

Shares of NYSE FBK traded up $0.08 during mid-day trading on Friday, hitting $40.56. 289,586 shares of the company traded hands, compared to its average volume of 164,851. The business has a 50 day moving average of $46.33 and a two-hundred day moving average of $50.25. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.42 and a beta of 0.92. FB Financial Co. has a 1 year low of $34.50 and a 1 year high of $58.88.

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. The company had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a $0.19 dividend. This is a positive change from FB Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.87%. FB Financial's dividend payout ratio (DPR) is currently 27.94%.

FB Financial 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.