12th Street Asset Management Company LLC Purchases 19,717 Shares of FB Financial Corporation $FBK

12th Street Asset Management Company LLC grew its position in shares of FB Financial Corporation (NYSE:FBK) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,398 shares of the financial services provider’s stock after purchasing an additional 19,717 shares during the period. FB Financial makes up 2.0% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 20th biggest holding. 12th Street Asset Management Company LLC’s holdings in FB Financial were worth $11,783,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Investors Research Corp bought a new stake in FB Financial during the third quarter valued at $26,000. UMB Bank n.a. raised its holdings in shares of FB Financial by 155.9% in the 3rd 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 in the last quarter. Tripletail Wealth Management LLC bought a new stake in shares of FB Financial during the 3rd quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position 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 valued at $39,000 after acquiring an additional 795 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of FB Financial by 294.7% during the third quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 557 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 price target (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $65.00 in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.20.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider directly owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

FB Financial Trading Down 0.7%

FBK stock opened at $59.20 on Friday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.66 and a beta of 1.00. The firm’s 50-day moving average price is $58.27 and its two-hundred day moving average price is $55.26. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $62.37.

FB Financial (NYSE:FBK) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The company had revenue of $178.36 million for the quarter, compared to analysts’ expectations of $176.30 million. During the same period last year, the firm earned $0.85 earnings per share. Equities analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be given a $0.21 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio is 35.00%.

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.