Raymond James & Associates Trims Stock Position in FB Financial Co. (NYSE:FBK)

Raymond James & Associates lowered its stake in shares of FB Financial Co. (NYSE:FBK) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 88,734 shares of the financial services provider’s stock after selling 986 shares during the period. Raymond James & Associates’ holdings in FB Financial were worth $3,536,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FBK. Citadel Advisors LLC grew its position in shares of FB Financial by 0.7% during the 2nd quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock valued at $1,378,000 after acquiring an additional 249 shares during the period. American International Group Inc. grew its position in shares of FB Financial by 1.6% during the 2nd quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 314 shares during the period. Mariner LLC grew its position in shares of FB Financial by 1.6% during the 3rd quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after acquiring an additional 323 shares during the period. Osaic Holdings Inc. grew its position in shares of FB Financial by 15.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 392 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of FB Financial by 17.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stephens dropped their target price on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $41.50 to $40.00 in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.90.

FB Financial Trading Down 1.3 %

FBK stock opened at $34.48 on Friday. FB Financial Co. has a 12-month low of $24.34 and a 12-month high of $41.00. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 13.42 and a beta of 1.15. The business’s 50-day moving average is $35.98 and its 200 day moving average is $34.92.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to analysts’ expectations of $121.58 million. FB Financial had a return on equity of 10.10% and a net margin of 16.05%. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities analysts forecast that FB Financial Co. will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s payout ratio is currently 26.46%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average cost of $35.29 per share, for a total transaction of $70,580.00. Following the acquisition, the insider now directly owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were acquired at an average cost of $35.29 per share, for a total transaction of $70,580.00. Following the acquisition, the insider now directly owns 10,877,841 shares in the company, valued at approximately $383,879,008.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,000 shares of company stock worth $327,410 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.