12th Street Asset Management Company LLC Increases Stock Holdings in FB Financial Corporation $FBK

12th Street Asset Management Company LLC boosted its stake in FB Financial Corporation (NYSE:FBK) by 10.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 211,398 shares of the financial services provider’s stock after buying an additional 19,717 shares during the quarter. FB Financial makes up 2.0% of 12th Street Asset Management Company LLC’s investment portfolio, making the stock its 20th largest holding. 12th Street Asset Management Company LLC owned 0.39% of FB Financial worth $11,783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. State Street Corp grew its stake in shares of FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock worth $73,437,000 after acquiring an additional 75,951 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in FB Financial during the third quarter worth about $48,674,000. Millennium Management LLC boosted its holdings in FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the last quarter. Federated Hermes Inc. grew its position in FB Financial by 2.6% in the 3rd quarter. Federated Hermes Inc. now owns 352,970 shares of the financial services provider’s stock worth $19,675,000 after purchasing an additional 8,801 shares in the last quarter. Finally, CapWealth Advisors LLC increased its stake in FB Financial by 3,756.7% in the 3rd quarter. CapWealth Advisors LLC now owns 331,752 shares of the financial services provider’s stock valued at $18,492,000 after buying an additional 323,150 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Price Performance

Shares of FBK stock opened at $59.20 on Friday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.66 and a beta of 1.00. The company’s fifty day simple moving average is $58.27 and its two-hundred day simple moving average is $55.26. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The company had revenue of $178.36 million during the quarter, compared to analysts’ expectations of $176.30 million. During the same period in the previous year, the business earned $0.85 earnings per share. Equities research analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is presently 35.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Piper Sandler downgraded FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $65.00 in a research note on Friday, January 23rd. Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $66.00 target price (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

Insider Buying and Selling at FB Financial

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the sale, the insider directly owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.