Allspring Global Investments Holdings LLC Purchases 28,786 Shares of FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC raised its position in FB Financial Co. (NYSE:FBK) by 15.9% during the fourth quarter, Holdings Channel reports. The fund owned 210,318 shares of the financial services provider’s stock after acquiring an additional 28,786 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FB Financial were worth $8,381,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Citadel Advisors LLC lifted its holdings in FB Financial by 0.7% in the second 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. lifted its holdings in FB Financial by 1.6% in the second 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 raised its stake in shares of FB Financial by 1.6% in the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after buying an additional 323 shares during the period. Osaic Holdings Inc. raised its stake in shares of FB Financial by 15.2% in the second quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock worth $83,000 after buying an additional 392 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of FB Financial by 17.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock worth $85,000 after buying an additional 449 shares during the period. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FBK shares. Piper Sandler raised FB Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $41.00 in a research note on Tuesday. Stephens decreased their price objective on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 17th. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $40.00 to $40.50 in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of FB Financial in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.43.

FB Financial Trading Down 1.4 %

NYSE:FBK opened at $35.64 on Thursday. FB Financial Co. has a 12-month low of $24.34 and a 12-month high of $41.00. The stock has a 50-day moving average price of $35.96 and a 200 day moving average price of $35.11. The stock has a market capitalization of $1.67 billion, a P/E ratio of 14.97 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.06. The business had revenue of $116.43 million during the quarter, compared to analysts’ expectations of $121.58 million. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. During the same quarter last year, the business posted $0.85 EPS. On average, research analysts predict that FB Financial Co. will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, February 12th. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

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 on Wednesday, February 21st. The stock was acquired at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the acquisition, the insider now directly owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was bought at an average price of $36.35 per share, with a total value of $72,700.00. Following the acquisition, the insider now owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. Insiders bought 7,000 shares of company stock worth $256,830 in the last quarter. 1.90% of the stock is owned by corporate insiders.

FB Financial Company 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.