FB Financial (NYSE:FBK) Sees Unusually-High Trading Volume

Shares of FB Financial Co. (NYSE:FBK) saw an uptick in trading volume on Tuesday . 221,010 shares traded hands during trading, an increase of 72% from the previous session’s volume of 128,217 shares.The stock last traded at $35.65 and had previously closed at $34.63.

Analyst Ratings Changes

Several research firms have recently commented on FBK. JPMorgan Chase & Co. upped their price target on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $40.50 in a research report on Tuesday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $38.00 price target on shares of FB Financial in a research report on Wednesday. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $38.00 to $41.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.43.

FB Financial Price Performance

The firm has a fifty day simple moving average of $35.96 and a 200 day simple moving average of $35.11. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The company had revenue of $116.43 million for the quarter, compared to the consensus estimate of $121.58 million. During the same quarter last year, the company posted $0.85 earnings per share. Analysts expect that FB Financial Co. will post 2.84 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 27th. Investors of record on Tuesday, February 13th were given a $0.17 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, February 12th. FB Financial’s dividend payout ratio (DPR) is 28.57%.

Insider Buying and Selling

In other news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder James W. Ayers acquired 3,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $35.91 per share, with a total value of $107,730.00. Following the completion of the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were bought at an average cost of $36.35 per share, with a total value of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. Insiders bought a total of 7,000 shares of company stock valued at $256,830 over the last ninety days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FBK. Citadel Advisors LLC increased its stake in shares of FB Financial by 0.7% in the second quarter. Citadel Advisors LLC now owns 35,129 shares of the financial services provider’s stock valued at $1,378,000 after buying an additional 249 shares in the last quarter. SummerHaven Investment Management LLC increased its position in FB Financial by 1.1% in the fourth quarter. SummerHaven Investment Management LLC now owns 25,229 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 278 shares during the period. American International Group Inc. increased its position in FB Financial by 1.6% in the second quarter. American International Group Inc. now owns 19,580 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 314 shares during the period. Mariner LLC increased its position in FB Financial by 1.6% in the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 323 shares during the period. Finally, Osaic Holdings Inc. increased its position in FB Financial by 15.2% in the second quarter. Osaic Holdings Inc. now owns 2,969 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 392 shares during the period. 65.40% of the stock is owned by institutional investors.

About FB Financial

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.