Brevan Howard Capital Management LP Purchases New Shares in FB Financial Co. (NYSE:FBK)

Brevan Howard Capital Management LP acquired a new position in shares of FB Financial Co. (NYSE:FBK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,344 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp increased its position in shares of FB Financial by 15.3% in the fourth quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock worth $21,886,000 after acquiring an additional 56,474 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FB Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock worth $19,383,000 after purchasing an additional 2,943 shares during the period. Federated Hermes Inc. grew its position in FB Financial by 3.0% during the 4th quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider’s stock worth $17,510,000 after purchasing an additional 9,995 shares in the last quarter. Ameriprise Financial Inc. raised its stake in FB Financial by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider’s stock valued at $14,136,000 after purchasing an additional 3,492 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in FB Financial by 293.8% during the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock valued at $13,544,000 after purchasing an additional 196,172 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of NYSE FBK opened at $45.24 on Monday. FB Financial Co. has a one year low of $34.50 and a one year high of $58.88. The business’s 50-day moving average price is $44.09 and its two-hundred day moving average price is $49.77. The company has a market capitalization of $2.11 billion, a P/E ratio of 18.32 and a beta of 0.93.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The business had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. During the same period in the previous year, the company earned $0.85 EPS. On average, equities analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial’s dividend payout ratio is 27.94%.

Analysts Set New Price Targets

Several analysts have recently commented on FBK shares. Keefe, Bruyette & Woods decreased their target price on FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Piper Sandler decreased their price objective on FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Stephens dropped their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial has an average rating of “Hold” and an average target price of $53.80.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was purchased at an average cost of $51.83 per share, for a total transaction of $103,660.00. Following the completion of the acquisition, the insider now owns 10,927,841 shares of the company’s stock, valued at approximately $566,389,999.03. This trade represents a 0.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James W. Iv Cross bought 7,200 shares of the stock in a transaction on Wednesday, April 16th. The shares were acquired at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director now directly owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. The trade was a 13.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,200 shares of company stock worth $492,208 in the last 90 days. 1.90% of the stock is owned by insiders.

FB Financial Profile

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.