28,762 Shares in FB Financial Co. (NYSE:FBK) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of FB Financial Co. (NYSE:FBK - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 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.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of Montreal Can bought a new position in shares of FB Financial in the fourth quarter valued at approximately $221,000. Federated Hermes Inc. boosted its stake in FB Financial by 3.0% during the 4th quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider's stock valued at $17,510,000 after purchasing an additional 9,995 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of FB Financial by 6.9% in the 4th quarter. Russell Investments Group Ltd. now owns 16,216 shares of the financial services provider's stock worth $835,000 after buying an additional 1,042 shares in the last quarter. Pictet Asset Management Holding SA acquired a new stake in shares of FB Financial in the fourth quarter valued at $277,000. Finally, JPMorgan Chase & Co. boosted its stake in FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock valued at $13,544,000 after buying an additional 196,172 shares in the last quarter. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FBK shares. Piper Sandler reduced their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. StockNews.com lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Stephens cut their price objective 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. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods reduced their target price on FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $53.80.

Insider Buying and Selling at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was bought at an average cost of $51.83 per share, with a total value of $103,660.00. Following the purchase, the insider now directly owns 10,927,841 shares of the company's stock, valued at approximately $566,389,999.03. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was purchased at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 13,200 shares of company stock worth $596,348. 1.90% of the stock is currently owned by company insiders.

FB Financial Trading Up 3.3 %

NYSE:FBK traded up $1.44 during trading hours on Friday, hitting $44.73. 174,451 shares of the stock traded hands, compared to its average volume of 170,904. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 18.11 and a beta of 0.93. The firm has a 50 day moving average price of $44.58 and a 200 day moving average price of $49.91. 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 announced its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $132.28 million. During the same period in the prior year, the business earned $0.85 EPS. Research analysts predict that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial's payout ratio is presently 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.