Wasatch Advisors LP Increases Holdings in FB Financial Co. (NYSE:FBK)

Wasatch Advisors LP increased its stake in shares of FB Financial Co. (NYSE:FBK) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225,838 shares of the financial services provider’s stock after purchasing an additional 55,071 shares during the period. Wasatch Advisors LP’s holdings in FB Financial were worth $57,529,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FBK. nVerses Capital LLC acquired a new position in shares of FB Financial during the 3rd quarter worth approximately $84,000. Raymond James Trust N.A. acquired a new position in FB Financial in the 3rd quarter valued at $201,000. Entropy Technologies LP acquired a new position in FB Financial in the 3rd quarter valued at $202,000. Renaissance Technologies LLC acquired a new position in FB Financial in the 2nd quarter valued at $217,000. Finally, Martingale Asset Management L P acquired a new position in FB Financial in the 3rd quarter valued at $254,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Up 0.2 %

Shares of FB Financial stock opened at $56.45 on Friday. The company has a fifty day moving average price of $50.65 and a 200 day moving average price of $44.97. FB Financial Co. has a twelve month low of $32.82 and a twelve month high of $58.88. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 24.65 and a beta of 1.12.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The firm had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. During the same period in the prior year, the company earned $0.71 EPS. Analysts forecast that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a $0.17 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. FB Financial’s payout ratio is currently 29.69%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FBK shares. Keefe, Bruyette & Woods boosted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, FB Financial presently has an average rating of “Hold” and an average target price of $48.60.

Insider Buying and Selling at FB Financial

In related news, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now owns 54,078 shares in the company, valued at $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the purchase, the insider now owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $658,460 in the last ninety days. Insiders own 1.70% of the company’s stock.

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.