Ameriprise Financial Inc. Boosts Position in FB Financial Co. (NYSE:FBK)

Ameriprise Financial Inc. lifted its stake in shares of FB Financial Co. (NYSE:FBK) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 274,427 shares of the financial services provider’s stock after acquiring an additional 3,492 shares during the period. Ameriprise Financial Inc. owned 0.59% of FB Financial worth $14,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 997 shares during the period. KBC Group NV raised its holdings in shares of FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 555 shares during the period. LPL Financial LLC purchased a new stake in FB Financial in the 4th quarter valued at about $206,000. Lbmc Investment Advisors LLC purchased a new stake in FB Financial in the 4th quarter valued at about $220,000. Finally, Bank of Montreal Can purchased a new stake in FB Financial in the 4th quarter valued at about $221,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FB Financial stock opened at $45.75 on Friday. 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 $2.10 billion, a PE ratio of 18.52 and a beta of 0.93. The business has a 50-day simple moving average of $44.05 and a 200-day simple moving average of $49.65.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The firm had revenue of $130.67 million during the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. During the same period in the prior year, the company posted $0.85 earnings per share. On average, sell-side analysts predict that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial’s dividend payout ratio (DPR) is 27.94%.

Insider Activity at FB Financial

In other news, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction on Wednesday, April 16th. The stock was bought at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the purchase, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction on Tuesday, March 4th. The stock was purchased at an average price of $48.51 per share, with a total value of $97,020.00. Following the purchase, the insider now owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. The trade was a 0.02% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FBK has been the topic of several research analyst reports. Piper Sandler reduced their price objective on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Keefe, Bruyette & Woods reduced their price objective on shares of 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, Stephens reduced their price objective on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and a consensus target price of $53.80.

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.