Renaissance Technologies LLC Makes New $1.48 Million Investment in FB Financial Co. (NYSE:FBK)

Renaissance Technologies LLC purchased a new stake in shares of FB Financial Co. (NYSE:FBK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,762 shares of the financial services provider's stock, valued at approximately $1,482,000. Renaissance Technologies LLC owned 0.06% of FB Financial at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC increased its stake in shares of FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after acquiring an additional 314 shares during the last quarter. KBC Group NV raised its stake in shares of FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock worth $108,000 after purchasing an additional 555 shares in the last quarter. LPL Financial LLC bought a new stake in shares of FB Financial in the 4th quarter valued at approximately $206,000. Lbmc Investment Advisors LLC acquired a new position in FB Financial in the fourth quarter worth approximately $220,000. Finally, Bank of Montreal Can bought a new position in FB Financial during the fourth quarter valued at approximately $221,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on FBK shares. Piper Sandler dropped their price target on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. StockNews.com lowered FB Financial from a "hold" rating to a "sell" rating in a report on Monday. Stephens reduced 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. Keefe, Bruyette & Woods lowered their price objective on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Finally, Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and reduced their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.80.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction that occurred on Monday, February 3rd. The stock was acquired at an average price of $52.07 per share, for a total transaction of $104,140.00. Following the completion of the purchase, the insider now owns 10,921,841 shares in the company, valued at approximately $568,700,260.87. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James W. Iv Cross bought 7,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now owns 61,278 shares of the company's stock, valued at $2,481,146.22. This represents a 13.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 15,200 shares of company stock valued at $701,468 in the last ninety days. Company insiders own 1.90% of the company's stock.

FB Financial Stock Performance

Shares of NYSE:FBK traded up $0.80 during midday trading on Thursday, hitting $43.36. The company's stock had a trading volume of 234,690 shares, compared to its average volume of 170,085. The stock's 50 day simple moving average is $44.79 and its 200 day simple moving average is $49.97. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 17.55 and a beta of 0.92. FB Financial Co. has a fifty-two week low of $34.50 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last released 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. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The firm had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter last year, the firm posted $0.85 EPS. As a group, analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial's payout ratio is currently 27.94%.

About FB Financial

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.