FB Financial Corporation $FBK Shares Purchased by Strs Ohio

Strs Ohio raised its position in FB Financial Corporation (NYSE:FBK) by 9,775.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,500 shares of the financial services provider’s stock after purchasing an additional 117,300 shares during the period. Strs Ohio owned about 0.22% of FB Financial worth $6,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Investors Research Corp acquired a new position in shares of FB Financial in the third quarter valued at approximately $26,000. Tripletail Wealth Management LLC acquired a new position in FB Financial in the 3rd quarter valued at $31,000. First Horizon Corp purchased a new position in shares of FB Financial during the 3rd quarter worth $45,000. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 795 shares during the period. Finally, Toth Financial Advisory Corp acquired a new stake in shares of FB Financial during the third quarter worth $106,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Price Performance

Shares of NYSE:FBK opened at $58.02 on Tuesday. The business has a 50-day moving average of $57.21 and a two-hundred day moving average of $54.36. The firm has a market capitalization of $3.10 billion, a PE ratio of 24.18 and a beta of 0.98. FB Financial Corporation has a 12 month low of $38.83 and a 12 month high of $62.37.

FB Financial (NYSE:FBK) last issued 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 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 previous year, the business earned $0.85 EPS. As a group, research analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be paid a dividend of $0.21 per share. This is an increase from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, February 10th. FB Financial’s payout ratio is presently 31.67%.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction 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 completion of the sale, the insider owned 9,484 shares of the company’s stock, valued at $569,609.04. This represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on FBK shares. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the company from $63.00 to $65.00 in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a report on Thursday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.20.

About FB Financial

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.