Wells Fargo & Company MN Has $8.27 Million Stake in FB Financial Co. (NYSE:FBK)

Wells Fargo & Company MN decreased its holdings in shares of FB Financial Co. (NYSE:FBK - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 160,532 shares of the financial services provider's stock after selling 22,930 shares during the quarter. Wells Fargo & Company MN owned about 0.34% of FB Financial worth $8,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA acquired a new position in shares of FB Financial during the fourth quarter valued at about $277,000. JPMorgan Chase & Co. raised its holdings in FB Financial by 293.8% in the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock valued at $13,544,000 after acquiring an additional 196,172 shares in the last quarter. LPL Financial LLC bought a new stake in shares of FB Financial in the 4th quarter worth approximately $206,000. KLP Kapitalforvaltning AS acquired a new stake in shares of FB Financial during the 4th quarter worth approximately $414,000. Finally, Summit Global Investments bought a new stake in shares of FB Financial during the fourth quarter valued at approximately $970,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Wall Street Analyst Weigh In

FBK has been the topic of a number of recent research reports. StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods decreased their target price on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler decreased their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Stephens dropped their target price on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $53.80.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were bought at an average cost of $52.07 per share, for a total transaction of $104,140.00. Following the transaction, the insider now owns 10,921,841 shares in the company, valued at approximately $568,700,260.87. This trade represents a 0.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of $40.49 per share, with a total value of $291,528.00. Following the transaction, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 15,200 shares of company stock worth $701,468. 1.90% of the stock is currently owned by corporate insiders.

FB Financial Stock Up 2.7 %

NYSE:FBK traded up $1.12 on Wednesday, reaching $42.31. The stock had a trading volume of 34,117 shares, compared to its average volume of 193,653. The company has a market capitalization of $1.98 billion, a P/E ratio of 17.13 and a beta of 0.92. FB Financial Co. has a 1-year low of $34.50 and a 1-year high of $58.88. The stock has a fifty day moving average price of $45.88 and a 200-day moving average price of $50.15.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 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 business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts predict that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.80%. This is a positive change from FB Financial's previous quarterly dividend of $0.17. FB Financial's dividend 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.