Allspring Global Investments Holdings LLC Increases Holdings in FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC raised its position in shares of FB Financial Co. (NYSE:FBK - Free Report) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,318 shares of the financial services provider's stock after acquiring an additional 28,786 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.45% of FB Financial worth $8,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Equitable Trust Co. purchased a new stake in shares of FB Financial during the 4th quarter worth approximately $269,000. Wakefield Asset Management LLLP raised its holdings in shares of FB Financial by 10.7% during the 4th quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider's stock worth $1,007,000 after acquiring an additional 2,447 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FB Financial by 5.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,236 shares of the financial services provider's stock worth $647,000 after acquiring an additional 855 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of FB Financial during the 4th quarter worth approximately $881,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of FB Financial during the 3rd quarter valued at approximately $208,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Performance

FB Financial stock traded down $0.08 during mid-day trading on Thursday, hitting $35.56. The company's stock had a trading volume of 186,547 shares, compared to its average volume of 135,058. The company has a 50 day moving average of $35.96 and a 200-day moving average of $35.11. The stock has a market cap of $1.67 billion, a PE ratio of 14.94 and a beta of 1.15. FB Financial Co. has a one year low of $24.34 and a one year high of $41.00.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The company had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same quarter in the prior year, the company posted $0.85 EPS. On average, equities research analysts forecast that FB Financial Co. will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.91%. This is a boost from FB Financial's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 12th. FB Financial's dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $40.00 to $40.50 in a research report on Tuesday. StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a research report on Tuesday. Stephens cut their target price on FB Financial from $45.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $38.00 target price on shares of FB Financial in a research report on Wednesday. Finally, Piper Sandler raised FB Financial from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $38.00 to $41.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, FB Financial has an average rating of "Hold" and a consensus price target of $39.43.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, January 22nd. The stock was acquired at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the acquisition, the insider now owns 10,881,841 shares of the company's stock, valued at $415,686,326.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, January 22nd. The stock was acquired at an average cost of $38.20 per share, for a total transaction of $76,400.00. Following the acquisition, the insider now owns 10,881,841 shares of the company's stock, valued at $415,686,326.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder James W. Ayers acquired 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $35.91 per share, with a total value of $107,730.00. Following the completion of the purchase, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,000 shares of company stock worth $256,830. 1.90% of the stock is currently owned by company insiders.

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.