T. Rowe Price Investment Management Inc. lowered its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,450,431 shares of the financial services provider's stock after selling 41,250 shares during the quarter. T. Rowe Price Investment Management Inc. owned 9.54% of FB Financial worth $229,242,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Barclays PLC raised its position 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 valued at $4,415,000 after acquiring an additional 34,633 shares during the period. Geode Capital Management LLC increased its stake in shares of FB Financial by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider's stock worth $38,272,000 after purchasing an additional 7,021 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of FB Financial by 103.7% in the 3rd quarter. Franklin Resources Inc. now owns 42,182 shares of the financial services provider's stock valued at $2,013,000 after purchasing an additional 21,475 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of FB Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock valued at $3,134,000 after purchasing an additional 4,918 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 314 shares during the period. Institutional investors own 65.40% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods dropped their price objective on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a research note on Thursday, April 17th. Stephens dropped their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler lowered their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, StockNews.com lowered FB Financial from a "hold" rating to a "sell" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, FB Financial presently has an average rating of "Hold" and a consensus target price of $53.80.
Read Our Latest Analysis on FB Financial
Insider Buying and Selling
In related news, Director James W. Iv Cross acquired 7,200 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were bought at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares in the company, valued at approximately $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 10,921,841 shares of the company's stock, valued at approximately $568,700,260.87. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 15,200 shares of company stock valued at $701,468 over the last quarter. 1.90% of the stock is owned by company insiders.
FB Financial Stock Performance
NYSE:FBK traded up $0.28 during trading hours on Tuesday, reaching $42.84. The stock had a trading volume of 59,907 shares, compared to its average volume of 167,477. The stock has a 50 day simple moving average of $45.09 and a 200 day simple moving average of $50.07. FB Financial Co. has a 12-month low of $34.50 and a 12-month high of $58.88. The stock has a market cap of $2.00 billion, a P/E ratio of 17.29 and a beta of 0.92.
FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting 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 during the quarter, compared to analyst estimates of $132.28 million. During the same period last year, the company earned $0.85 earnings per share. On average, equities analysts expect that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.
FB Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.19 per share. This is a boost from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio (DPR) is presently 27.94%.
FB Financial Profile
(
Free Report)
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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