Simplicity Solutions LLC Decreases Stake in FB Financial Co. (NYSE:FBK)

Simplicity Solutions LLC reduced its stake in shares of FB Financial Co. (NYSE:FBK) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,338 shares of the financial services provider’s stock after selling 278 shares during the period. Simplicity Solutions LLC’s holdings in FB Financial were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FBK. T. Rowe Price Investment Management Inc. boosted its position in shares of FB Financial by 7.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after purchasing an additional 348,790 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of FB Financial during the 1st quarter worth $13,000,000. Wasatch Advisors Inc. boosted its position in shares of FB Financial by 17.7% during the 1st quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after purchasing an additional 237,256 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of FB Financial by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,606,696 shares of the financial services provider’s stock worth $49,934,000 after purchasing an additional 111,871 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of FB Financial by 1.9% in the 1st quarter. BlackRock Inc. now owns 5,600,209 shares of the financial services provider’s stock worth $248,763,000 after buying an additional 103,314 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Price Performance

NYSE FBK opened at $36.41 on Friday. FB Financial Co. has a 12 month low of $24.34 and a 12 month high of $41.00. The company has a 50-day moving average of $35.96 and a 200-day moving average of $35.17. The company has a market cap of $1.71 billion, a P/E ratio of 15.30 and a beta of 1.15.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The company had revenue of $116.43 million during the quarter, compared to the consensus estimate of $121.58 million. During the same quarter in the prior year, the company posted $0.85 EPS. As a group, equities research analysts anticipate that FB Financial Co. will post 2.99 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio is currently 28.57%.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, with a total value of $107,730.00. Following the transaction, 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 this hyperlink. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $36.35 per share, with a total value of $72,700.00. Following the transaction, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, with a total value of $107,730.00. Following the transaction, the insider now owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Insiders purchased a total of 7,000 shares of company stock valued at $256,830 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on FBK. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $41.00 in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday. Stephens decreased their price objective on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 17th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 target price on shares of FB Financial in a report on Wednesday. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $40.00 to $40.50 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.43.

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.