18,826 Shares in FB Financial Co. (NYSE:FBK) Acquired by Summit Global Investments

Summit Global Investments acquired a new position in shares of FB Financial Co. (NYSE:FBK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,826 shares of the financial services provider’s stock, valued at approximately $970,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 314 shares in the last quarter. Albert D Mason Inc. grew its holdings in FB Financial by 1.5% during the 4th quarter. Albert D Mason Inc. now owns 23,474 shares of the financial services provider’s stock worth $1,209,000 after acquiring an additional 346 shares during the last quarter. Stifel Financial Corp grew its holdings in FB Financial by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock worth $3,786,000 after acquiring an additional 356 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in FB Financial by 1.6% during the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider’s stock worth $1,315,000 after acquiring an additional 412 shares during the last quarter. Finally, KBC Group NV grew its holdings in FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 555 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FBK. Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, FB Financial currently has a consensus rating of “Hold” and an average target price of $52.60.

FB Financial Price Performance

Shares of FBK stock opened at $47.26 on Friday. The firm has a 50-day moving average of $50.44 and a 200-day moving average of $50.73. The company has a market cap of $2.21 billion, a P/E ratio of 19.13 and a beta of 1.16. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, research analysts expect that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 annualized dividend and a yield of 1.61%. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is presently 30.77%.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the completion of the transaction, the insider now owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders purchased 16,000 shares of company stock worth $813,900. 1.70% of the stock is owned by company insiders.

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.