Heartland Advisors Inc. Invests $11.24 Million in FB Financial Co. (NYSE:FBK)

Heartland Advisors Inc. acquired a new stake in shares of FB Financial Co. (NYSE:FBK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 261,267 shares of the financial services provider's stock, valued at approximately $11,237,000. Heartland Advisors Inc. owned approximately 0.56% of FB Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in shares of FB Financial by 975.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider's stock worth $319,000 after acquiring an additional 10,198 shares in the last quarter. Richard Bernstein Advisors LLC acquired a new stake in shares of FB Financial in the 3rd quarter worth $2,770,000. Illinois Municipal Retirement Fund purchased a new position in FB Financial during the 3rd quarter worth $602,000. Earnest Partners LLC increased its position in FB Financial by 6.6% during the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider's stock valued at $15,822,000 after buying an additional 34,601 shares in the last quarter. Finally, Wakefield Asset Management LLLP raised its stake in FB Financial by 10.7% in the fourth quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider's stock valued at $1,007,000 after buying an additional 2,447 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on FBK. Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 17th. JPMorgan Chase & Co. raised their target price on shares of FB Financial from $41.00 to $43.00 and gave the stock an "underweight" rating in a report on Wednesday, April 17th. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $40.00 to $40.50 in a report on Tuesday, April 16th. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, April 16th. Finally, Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $38.00 to $41.00 in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, FB Financial currently has a consensus rating of "Hold" and an average price target of $39.43.

FB Financial Stock Up 0.7 %

NYSE:FBK traded up $0.26 on Tuesday, hitting $38.60. The stock had a trading volume of 62,860 shares, compared to its average volume of 131,586. FB Financial Co. has a 1-year low of $25.45 and a 1-year high of $41.00. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 16.22 and a beta of 1.12. The company has a fifty day moving average price of $36.65 and a two-hundred day moving average price of $36.31.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.15. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The company had revenue of $107.45 million during the quarter, compared to the consensus estimate of $119.84 million. As a group, analysts anticipate that FB Financial Co. will post 3.05 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, May 13th. FB Financial's dividend payout ratio is currently 28.57%.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the firm's stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the transaction, the insider now owns 10,886,841 shares of the company's stock, valued at $395,736,670.35. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.

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