Certuity LLC Boosts Holdings in FB Financial Corporation $FBK

Certuity LLC raised its stake in shares of FB Financial Corporation (NYSE:FBK) by 1,205.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 268,039 shares of the financial services provider’s stock after buying an additional 247,511 shares during the period. FB Financial comprises about 0.7% of Certuity LLC’s portfolio, making the stock its 23rd largest holding. Certuity LLC owned 0.50% of FB Financial worth $14,940,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Investors Research Corp acquired a new stake in FB Financial during the third quarter worth about $26,000. UMB Bank n.a. lifted its holdings in FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 293 shares during the period. Tripletail Wealth Management LLC purchased a new stake in FB Financial in the 3rd quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew 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, Bessemer Group Inc. grew 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 purchasing an additional 557 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction 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. The trade was a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

FB Financial Price Performance

FB Financial stock opened at $50.99 on Friday. FB Financial Corporation has a 12 month low of $38.83 and a 12 month high of $62.37. The stock has a market capitalization of $2.64 billion, a PE ratio of 21.25 and a beta of 0.99. The business has a 50 day simple moving average of $57.56 and a 200-day simple moving average of $56.11.

FB Financial (NYSE:FBK) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. The firm had revenue of $178.36 million for the quarter, compared to analyst estimates 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 last year, the firm posted $0.85 EPS. On average, equities research analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.6%. FB Financial’s payout ratio is 35.00%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FBK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and raised their price target for the company from $63.00 to $65.00 in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.20.

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.