Toth Financial Advisory Corp Raises Position in FB Financial Corporation $FBK

Toth Financial Advisory Corp lifted its stake in shares of FB Financial Corporation (NYSE:FBK) by 883.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,680 shares of the financial services provider’s stock after acquiring an additional 16,780 shares during the quarter. Toth Financial Advisory Corp’s holdings in FB Financial were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FBK. Vanguard Group Inc. boosted its holdings in FB Financial by 19.5% in the third quarter. Vanguard Group Inc. now owns 2,957,794 shares of the financial services provider’s stock valued at $164,867,000 after purchasing an additional 483,191 shares during the period. Dimensional Fund Advisors LP increased its holdings in FB Financial by 5.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock worth $112,592,000 after purchasing an additional 109,318 shares during the period. State Street Corp raised its position in FB Financial by 4.9% in the 2nd quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after purchasing an additional 75,951 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in shares of FB Financial in the 3rd quarter valued at about $48,674,000. Finally, Wasatch Advisors LP boosted its stake in shares of FB Financial by 31.9% in the 3rd quarter. Wasatch Advisors LP now owns 831,614 shares of the financial services provider’s stock valued at $46,354,000 after buying an additional 201,141 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Down 0.1%

Shares of NYSE:FBK opened at $53.34 on Friday. The firm has a 50 day simple moving average of $55.39 and a 200-day simple moving average of $55.95. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $62.37. The company has a market capitalization of $2.76 billion, a PE ratio of 22.22 and a beta of 0.98.

FB Financial (NYSE:FBK) last announced 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 firm had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. During the same period last year, the business earned $0.85 EPS. As a group, equities research analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 10th. This is an increase from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio (DPR) is presently 35.00%.

Insider Activity

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s 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 completion of the sale, the insider directly owned 9,484 shares of the company’s stock, valued at $569,609.04. This represents a 47.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on FBK shares. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 target price on the stock in a research note on Thursday. Weiss Ratings upgraded shares of FB Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, FB Financial has an average rating of “Buy” and an average price target of $63.00.

FB Financial 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.