Systematic Financial Management LP Takes Position in FB Financial Co. (NYSE:FBK)

Systematic Financial Management LP purchased a new position in shares of FB Financial Co. (NYSE:FBK) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,045 shares of the financial services provider’s stock, valued at approximately $565,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of FB Financial in the third quarter worth about $110,000. Point72 Asset Management L.P. acquired a new stake in shares of FB Financial in the third quarter valued at approximately $47,000. Hotchkis & Wiley Capital Management LLC raised its position in FB Financial by 1.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 76,455 shares of the financial services provider’s stock worth $3,588,000 after purchasing an additional 800 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in FB Financial during the 3rd quarter worth $124,000. Finally, Wasatch Advisors LP boosted its position in FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock valued at $57,529,000 after buying an additional 55,071 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Trading Down 0.3 %

NYSE:FBK opened at $56.51 on Friday. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 24.68 and a beta of 1.15. The business’s 50-day moving average price is $51.65 and its two-hundred day moving average price is $45.58.

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, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period last year, the company posted $0.71 EPS. Sell-side analysts predict that FB Financial Co. will post 3.38 earnings per share for the current year.

FB Financial Announces Dividend

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

Insider Activity

In related news, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares in the company, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers bought 1,500 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the purchase, the insider now owns 10,892,341 shares in the company, valued at $540,042,266.78. This represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 13,000 shares of company stock valued at $658,460 in the last quarter. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FBK. Keefe, Bruyette & Woods boosted their target price on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research report on Monday, November 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.20.

FB Financial Company 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.