Russell Investments Group Ltd. Buys 1,042 Shares of FB Financial Co. (NYSE:FBK)

Russell Investments Group Ltd. grew its stake in FB Financial Co. (NYSE:FBK) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,216 shares of the financial services provider’s stock after acquiring an additional 1,042 shares during the quarter. Russell Investments Group Ltd.’s holdings in FB Financial were worth $835,000 at the end of the most recent quarter.

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

FB Financial Price Performance

Shares of FBK opened at $39.99 on Tuesday. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The company has a market cap of $1.87 billion, a PE ratio of 16.19 and a beta of 0.92. The firm has a 50-day moving average of $46.10 and a 200-day moving average of $50.21.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $132.28 million. During the same quarter in the prior year, the business earned $0.85 EPS. Analysts expect that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were given a $0.19 dividend. This is an increase from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.90%. FB Financial’s dividend payout ratio is presently 27.94%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FBK shares. Stephens lowered their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler reduced their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Finally, Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.80.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average cost of $52.07 per share, with a total value of $104,140.00. Following the acquisition, the insider now directly owns 10,921,841 shares of the company’s stock, valued at approximately $568,700,260.87. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James W. Iv Cross bought 7,200 shares of FB Financial stock in a transaction dated Wednesday, April 16th. The shares were bought at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the acquisition, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 15,200 shares of company stock worth $701,468 in the last 90 days. Company insiders own 1.70% of the company’s stock.

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.