Rhumbline Advisers Raises Stake in FB Financial Corporation $FBK

Rhumbline Advisers lifted its stake in shares of FB Financial Corporation (NYSE:FBK) by 10.7% during the 3rd quarter, Holdings Channel reports. The fund owned 120,174 shares of the financial services provider’s stock after buying an additional 11,652 shares during the quarter. Rhumbline Advisers’ holdings in FB Financial were worth $6,698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FBK. Investors Research Corp purchased a new stake in shares of FB Financial in the third quarter valued at about $26,000. UMB Bank n.a. boosted its holdings in 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 purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in shares of FB Financial in the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 795 shares during the last quarter. Finally, Bessemer Group Inc. raised its position 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 valued at $41,000 after buying an additional 557 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FBK shares. Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $65.00 in a report on Friday, January 23rd. Finally, Wall Street Zen raised 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 given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Transactions at FB Financial

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the sale, the insider owned 9,484 shares of the company’s stock, valued at $569,609.04. This trade represents a 47.26% decrease in their position. 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 owned by corporate insiders.

FB Financial Stock Up 1.1%

Shares of FBK opened at $59.14 on Monday. The company has a market cap of $3.16 billion, a P/E ratio of 24.64 and a beta of 1.00. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $62.37. The firm’s 50 day moving average price is $58.38 and its 200 day moving average price is $55.79.

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

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.21 per share. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, February 10th. This represents a $0.84 annualized dividend and a yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is currently 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.