Intech Investment Management LLC Buys 9,570 Shares of FB Financial Co. (NYSE:FBK)

Intech Investment Management LLC increased its stake in shares of FB Financial Co. (NYSE:FBK) by 136.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,595 shares of the financial services provider’s stock after buying an additional 9,570 shares during the quarter. Intech Investment Management LLC’s holdings in FB Financial were worth $855,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FBK. Wasatch Advisors LP grew its stake in shares of 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 worth $57,529,000 after acquiring an additional 55,071 shares in the last quarter. Geode Capital Management LLC boosted its stake in FB Financial by 0.9% in the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after acquiring an additional 7,021 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of FB Financial by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock valued at $19,383,000 after acquiring an additional 2,943 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of FB Financial by 1.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock worth $12,067,000 after purchasing an additional 4,435 shares during the last quarter. Finally, 12th Street Asset Management Company LLC lifted its stake in FB Financial by 65.2% in the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock valued at $10,163,000 after purchasing an additional 77,885 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on FBK shares. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Tuesday, March 11th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.60.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $48.46 per share, with a total value of $96,920.00. Following the completion of the acquisition, the insider now owns 10,917,841 shares of the company’s stock, valued at $529,078,574.86. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired 14,000 shares of company stock worth $710,180 in the last ninety days. 1.70% of the stock is currently owned by insiders.

FB Financial Stock Up 0.6 %

Shares of FBK opened at $47.26 on Monday. FB Financial Co. has a twelve month low of $33.35 and a twelve month high of $58.88. The stock has a market cap of $2.21 billion, a PE ratio of 19.13 and a beta of 1.16. The business’s 50-day moving average price is $50.44 and its 200-day moving average price is $50.75.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced 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. This represents a $0.76 annualized dividend and a yield of 1.61%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. FB Financial’s payout ratio is presently 30.77%.

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.