FB Financial Corporation $FBK Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its position in FB Financial Corporation (NYSE:FBK) by 10.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,174 shares of the financial services provider’s stock after purchasing an additional 11,652 shares during the period. Rhumbline Advisers owned about 0.22% of FB Financial worth $6,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FBK. Savant Capital LLC increased its holdings in FB Financial by 5.2% in the third quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after buying an additional 245 shares in the last quarter. Mutual of America Capital Management LLC grew its position in shares of FB Financial by 6.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 278 shares during the period. UMB Bank n.a. increased its stake in shares of FB Financial by 155.9% in the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC raised its holdings in FB Financial by 24.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 387 shares during the period. Finally, Investors Research Corp purchased a new position in FB Financial during the third quarter worth approximately $26,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 value of $510,510.00. Following the transaction, the insider directly owned 9,484 shares of the company’s stock, valued at $569,609.04. This trade represents a 47.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

FBK has been the subject of a number of recent analyst reports. 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 research report on Friday, January 23rd. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

FB Financial Stock Performance

NYSE FBK opened at $59.14 on Monday. The business has a fifty day moving average price of $58.38 and a 200 day moving average price of $55.79. The company has a market cap of $3.16 billion, a P/E ratio of 24.64 and a beta of 1.00. FB Financial Corporation has a one year low of $38.83 and a one year high of $62.37.

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

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.84 annualized dividend and a yield of 1.4%. This is a boost from FB Financial’s previous quarterly dividend of $0.19. 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.