Swiss National Bank Sells 9,400 Shares of FB Financial Co. (NYSE:FBK)

Swiss National Bank reduced its stake in FB Financial Co. (NYSE:FBK) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,083 shares of the financial services provider’s stock after selling 9,400 shares during the period. Swiss National Bank owned 0.17% of FB Financial worth $2,520,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FBK. True Capital Management purchased a new position in shares of FB Financial in the fourth quarter worth about $1,214,000. Raymond James & Associates lifted its position in shares of FB Financial by 1.6% during the 1st quarter. Raymond James & Associates now owns 103,373 shares of the financial services provider’s stock worth $3,213,000 after buying an additional 1,614 shares during the last quarter. TD Asset Management Inc lifted its position in shares of FB Financial by 6.8% during the 4th quarter. TD Asset Management Inc now owns 68,644 shares of the financial services provider’s stock worth $2,481,000 after buying an additional 4,400 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the 4th quarter worth approximately $119,000. Finally, Equitable Trust Co. raised its position in FB Financial by 19.6% in the 4th quarter. Equitable Trust Co. now owns 6,757 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 1,109 shares during the last quarter. Hedge funds and other institutional investors own 63.91% of the company’s stock.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was purchased at an average cost of $28.94 per share, with a total value of $57,880.00. Following the completion of the purchase, the insider now directly owns 10,824,091 shares in the company, valued at approximately $313,249,193.54. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Thursday, June 15th. The stock was acquired at an average cost of $28.94 per share, with a total value of $57,880.00. Following the completion of the acquisition, the insider now owns 10,824,091 shares in the company, valued at $313,249,193.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers purchased 6,000 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was bought at an average cost of $33.10 per share, with a total value of $198,600.00. Following the completion of the acquisition, the insider now directly owns 10,830,091 shares of the company’s stock, valued at $358,476,012.10. The disclosure for this purchase can be found here. Insiders have acquired a total of 44,103 shares of company stock worth $1,479,322 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FBK. DA Davidson upped their price target on shares of FB Financial from $33.50 to $37.00 in a research note on Wednesday, July 19th. Raymond James initiated coverage on shares of FB Financial in a report on Thursday, August 31st. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of FB Financial from $29.00 to $31.00 in a research report on Thursday, June 29th. TheStreet upgraded FB Financial from a “c+” rating to a “b-” rating in a research note on Monday, August 7th. Finally, StockNews.com began coverage on shares of FB Financial in a report on Thursday, August 17th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.29.

FB Financial Price Performance

Shares of NYSE FBK opened at $29.83 on Wednesday. FB Financial Co. has a fifty-two week low of $24.34 and a fifty-two week high of $44.11. The stock has a market capitalization of $1.40 billion, a PE ratio of 9.88 and a beta of 1.06. The business has a fifty day moving average price of $31.65 and a two-hundred day moving average price of $30.77.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, July 18th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. FB Financial had a return on equity of 10.73% and a net margin of 20.44%. The business had revenue of $125.36 million during the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, equities analysts expect that FB Financial Co. will post 2.88 EPS for the current year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th were given a $0.15 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.01%. FB Financial’s dividend payout ratio (DPR) is presently 19.87%.

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.