GAMMA Investing LLC Has $2.96 Million Position in FB Financial Co. (NYSE:FBK)

GAMMA Investing LLC increased its position in FB Financial Co. (NYSE:FBK) by 6,237.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,884 shares of the financial services provider’s stock after buying an additional 62,876 shares during the period. GAMMA Investing LLC owned 0.14% of FB Financial worth $2,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its holdings in FB Financial by 136.2% during the fourth quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 9,570 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in FB Financial by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider’s stock valued at $14,136,000 after purchasing an additional 3,492 shares during the last quarter. Summit Global Investments acquired a new position in FB Financial during the fourth quarter valued at approximately $970,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in FB Financial by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider’s stock valued at $1,041,000 after purchasing an additional 790 shares during the last quarter. Finally, Amundi grew its holdings in FB Financial by 185.9% during the fourth quarter. Amundi now owns 17,611 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 11,452 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods lowered 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. Stephens reduced their price objective on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Finally, Piper Sandler reduced their price objective on FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.80.

Insider Buying and Selling

In other news, Director James W. Iv Cross bought 7,200 shares of FB Financial stock in a transaction that occurred on Wednesday, April 16th. The stock was purchased at an average cost of $40.49 per share, with a total value of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

FB Financial Trading Down 1.2%

FBK opened at $43.43 on Friday. FB Financial Co. has a 1-year low of $35.33 and a 1-year high of $58.88. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 17.58 and a beta of 0.91. The business has a 50 day moving average of $43.21 and a 200-day moving average of $48.30.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The company had revenue of $130.67 million during the quarter, compared to analysts’ expectations 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 business earned $0.85 earnings per share. Equities analysts predict that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.76 annualized dividend and a yield of 1.75%. FB Financial’s dividend payout ratio (DPR) is currently 27.94%.

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.