Jupiter Asset Management Ltd. purchased a new stake in shares of FB Financial Co. (NYSE:FBK) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 137,775 shares of the financial services provider’s stock, valued at approximately $3,455,000. Jupiter Asset Management Ltd. owned about 0.43% of FB Financial at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in FBK. BlackRock Inc. grew its holdings in shares of FB Financial by 250.2% during the 3rd quarter. BlackRock Inc. now owns 4,568,968 shares of the financial services provider’s stock valued at $114,772,000 after purchasing an additional 3,264,310 shares during the last quarter. Principal Financial Group Inc. grew its holdings in FB Financial by 1,717.6% during the 3rd quarter. Principal Financial Group Inc. now owns 245,410 shares of the financial services provider’s stock worth $6,165,000 after acquiring an additional 231,908 shares during the last quarter. LSV Asset Management bought a new stake in FB Financial during the 2nd quarter worth approximately $4,541,000. Raymond James Financial Services Advisors Inc. bought a new stake in FB Financial during the 3rd quarter worth approximately $3,741,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in FB Financial by 114.9% during the 2nd quarter. Jacobs Levy Equity Management Inc. now owns 163,403 shares of the financial services provider’s stock worth $4,047,000 after acquiring an additional 87,349 shares during the last quarter. 56.79% of the stock is currently owned by institutional investors.
NYSE:FBK opened at $32.33 on Friday. The firm’s fifty day moving average is $29.32 and its 200-day moving average is $25.99. FB Financial Co. has a 52 week low of $14.38 and a 52 week high of $40.33. The firm has a market cap of $1.53 billion, a P/E ratio of 25.66 and a beta of 1.31.
FB Financial (NYSE:FBK) last released its earnings results on Saturday, October 31st. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $1.04. FB Financial had a net margin of 7.27% and a return on equity of 12.36%. The company had revenue of $165.85 million for the quarter, compared to the consensus estimate of $135.80 million. As a group, equities analysts expect that FB Financial Co. will post 3.21 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, November 6th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.11%. FB Financial’s payout ratio is presently 12.72%.
In related news, Director Melody J. Sullivan sold 7,500 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.17, for a total transaction of $203,775.00. Following the transaction, the director now owns 32,630 shares in the company, valued at approximately $886,557.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Melody J. Sullivan sold 4,548 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $26.29, for a total transaction of $119,566.92. Following the transaction, the director now owns 32,630 shares in the company, valued at approximately $857,842.70. The disclosure for this sale can be found here. 45.20% of the stock is owned by insiders.
A number of equities research analysts have weighed in on FBK shares. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $27.00 to $32.00 in a report on Thursday, October 29th. Keefe, Bruyette & Woods lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $30.00 target price on the stock. in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered shares of FB Financial from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $28.00 to $27.00 in a report on Wednesday, October 28th. ValuEngine lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Finally, Zacks Investment Research raised shares of FB Financial from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.50.
FB Financial Profile
FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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