Heartland Advisors Inc. Decreases Stock Holdings in FB Financial Co. (NYSE:FBK)

Heartland Advisors Inc. trimmed its position in shares of FB Financial Co. (NYSE:FBK) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 311,415 shares of the financial services provider’s stock after selling 10,044 shares during the period. Heartland Advisors Inc. owned about 0.67% of FB Financial worth $16,041,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of FB Financial by 45.2% in 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 during the period. Albert D Mason Inc. grew its holdings in shares of 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 period. Stifel Financial Corp raised its position in shares of FB Financial by 0.4% in 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 in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of FB Financial by 1.6% in the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 412 shares during the period. Finally, KBC Group NV boosted its position in shares of FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 555 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $48.51 per share, for a total transaction of $97,020.00. Following the purchase, the insider now directly owns 10,931,841 shares of the company’s stock, valued at approximately $530,303,606.91. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 14,000 shares of company stock worth $710,180. Company insiders own 1.70% of the company’s stock.

FB Financial Trading Down 0.1 %

Shares of FBK stock opened at $47.97 on Friday. The stock has a market capitalization of $2.24 billion, a P/E ratio of 19.42 and a beta of 1.16. The firm’s 50 day moving average is $50.19 and its 200 day moving average is $50.75. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88.

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

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Tuesday, February 11th. FB Financial’s dividend payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

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

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.