FB Financial Co. (NYSE:FBK) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of FB Financial Co. (NYSE:FBK) by 25.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,900 shares of the financial services provider’s stock after acquiring an additional 1,400 shares during the period. Handelsbanken Fonder AB’s holdings in FB Financial were worth $320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in shares of FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 997 shares during the last quarter. GAMMA Investing LLC boosted its holdings in FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock worth $64,000 after buying an additional 370 shares in the last quarter. LPL Financial LLC acquired a new position in FB Financial in the fourth quarter worth approximately $206,000. Covenant Partners LLC bought a new position in shares of FB Financial in the fourth quarter valued at $211,000. Finally, Point72 Asset Management L.P. lifted its position in shares of FB Financial by 320.0% during the 4th quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider’s stock valued at $216,000 after acquiring an additional 3,200 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FBK. Stephens cut their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective 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. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Piper Sandler reduced their price target on shares of 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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 the company’s stock in a transaction on Wednesday, April 16th. The shares were bought at an average cost of $40.49 per share, with a total value of $291,528.00. Following the transaction, the director now directly owns 61,278 shares in the company, valued at approximately $2,481,146.22. This trade represents a 13.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by corporate insiders.

FB Financial Trading Down 0.9%

Shares of NYSE FBK opened at $43.17 on Monday. FB Financial Co. has a one year low of $35.33 and a one year high of $58.88. The business has a 50-day moving average price of $43.27 and a two-hundred day moving average price of $48.10. The firm has a market capitalization of $1.98 billion, a PE ratio of 17.48 and a beta of 0.91.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $130.67 million during the quarter, compared to analysts’ expectations of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same period last year, the company posted $0.85 earnings per share. Research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 13th. FB Financial’s dividend payout ratio (DPR) is presently 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.