Boothbay Fund Management LLC Invests $7.87 Million in FB Financial Corporation $FBK

Boothbay Fund Management LLC purchased a new position in shares of FB Financial Corporation (NYSE:FBK) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 141,263 shares of the financial services provider’s stock, valued at approximately $7,874,000. Boothbay Fund Management LLC owned 0.26% of FB Financial at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in FB Financial in the third quarter worth about $26,000. UMB Bank n.a. grew its stake in shares of FB Financial by 155.9% during the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after buying an additional 293 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in shares of FB Financial in the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock worth $39,000 after buying an additional 795 shares during the period. Finally, Bessemer Group Inc. lifted its stake 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 worth $41,000 after acquiring an additional 557 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Stock Performance

FB Financial stock opened at $51.15 on Monday. The company has a market capitalization of $2.65 billion, a PE ratio of 21.31 and a beta of 0.99. The company has a 50 day moving average price of $57.46 and a 200-day moving average price of $56.13. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $62.37.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $178.36 million for the quarter, compared to analysts’ expectations 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 firm earned $0.85 earnings per share. On average, 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 was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a $0.21 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio (DPR) is currently 35.00%.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. 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.

Analyst Ratings Changes

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

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.