Dana Investment Advisors Inc. Acquires New Holdings in FB Financial Corporation $FBK

Dana Investment Advisors Inc. bought a new position in FB Financial Corporation (NYSE:FBK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,177 shares of the financial services provider’s stock, valued at approximately $1,682,000. Dana Investment Advisors Inc. owned approximately 0.06% of FB Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FBK. Investors Research Corp acquired a new stake in shares of FB Financial in the 3rd quarter valued at $26,000. UMB Bank n.a. lifted its position in shares of FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after buying an additional 293 shares during the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of FB Financial during the 3rd quarter worth about $31,000. EverSource Wealth Advisors LLC boosted its stake in shares of FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 795 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 557 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

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 that occurred on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FBK shares. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $63.00 to $65.00 in a research note on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

FB Financial Trading Down 0.5%

Shares of FBK opened at $57.91 on Friday. The stock has a market cap of $3.10 billion, a P/E ratio of 24.13 and a beta of 1.00. The stock’s 50-day moving average price is $58.33 and its two-hundred day moving average price is $55.95. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $62.37.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. The business had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. During the same quarter last year, the firm earned $0.85 EPS. As a group, equities analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. This is an increase from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, February 10th. FB Financial’s dividend payout ratio is currently 35.00%.

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.