FB Financial Corporation $FBK Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its stake in FB Financial Corporation (NYSE:FBK) by 94.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,407 shares of the financial services provider’s stock after selling 43,750 shares during the quarter. AlphaQuest LLC’s holdings in FB Financial were worth $134,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Deprince Race & Zollo Inc. purchased a new position in shares of FB Financial during the 3rd quarter worth about $48,674,000. CapWealth Advisors LLC boosted its holdings in FB Financial by 3,756.7% in the third quarter. CapWealth Advisors LLC now owns 331,752 shares of the financial services provider’s stock valued at $18,492,000 after purchasing an additional 323,150 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in FB Financial by 61.8% in the second quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock valued at $14,295,000 after acquiring an additional 120,561 shares in the last quarter. Strs Ohio increased its holdings in FB Financial by 9,775.0% in the third quarter. Strs Ohio now owns 118,500 shares of the financial services provider’s stock valued at $6,605,000 after buying an additional 117,300 shares during the last quarter. Finally, Keystone Financial Group Inc. lifted its position in shares of FB Financial by 229.7% in the 3rd quarter. Keystone Financial Group Inc. now owns 167,152 shares of the financial services provider’s stock worth $9,317,000 after buying an additional 116,459 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Cantor Fitzgerald reissued 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. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $63.00 to $65.00 in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, FB Financial presently has an average rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the completion of the transaction, the insider owned 9,484 shares in the company, valued at $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.

FB Financial Stock Performance

FB Financial stock opened at $59.20 on Friday. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $62.37. The firm has a market capitalization of $3.16 billion, a PE ratio of 24.66 and a beta of 1.00. The business’s 50-day simple moving average is $58.27 and its 200-day simple moving average is $55.26.

FB Financial (NYSE:FBK) last announced its 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. The firm had revenue of $178.36 million during the quarter, compared to the consensus estimate of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same quarter in the prior year, the company earned $0.85 EPS. Research analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, February 10th. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial’s dividend payout ratio is currently 35.00%.

FB Financial 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.