Pinnacle Financial Partners Inc Has $266,000 Stock Holdings in FB Financial Co. (NYSE:FBK)

Pinnacle Financial Partners Inc raised its stake in shares of FB Financial Co. (NYSE:FBK) by 412.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,253 shares of the financial services provider’s stock after purchasing an additional 4,227 shares during the period. Pinnacle Financial Partners Inc’s holdings in FB Financial were worth $266,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FBK. Creative Planning boosted its position in shares of FB Financial by 4.6% in the third quarter. Creative Planning now owns 26,308 shares of the financial services provider’s stock valued at $1,235,000 after acquiring an additional 1,149 shares during the period. Raymond James & Associates boosted its position in shares of FB Financial by 5.0% in the third quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after acquiring an additional 6,183 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after acquiring an additional 15,739 shares during the period. Rosenthal Henry Capital Advisors Inc. bought a new stake in shares of FB Financial in the third quarter valued at approximately $1,935,000. Finally, Entropy Technologies LP bought a new stake in shares of FB Financial in the third quarter valued at approximately $202,000. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

Shares of FBK stock opened at $49.75 on Monday. The stock has a fifty day moving average price of $52.08 and a 200 day moving average price of $50.43. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The stock has a market cap of $2.32 billion, a P/E ratio of 20.14 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its quarterly earnings data 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 return on equity of 10.43% and a net margin of 15.18%. Equities research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.19 per share. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, February 11th. FB Financial’s dividend payout ratio is currently 30.77%.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was purchased at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the purchase, the insider now directly owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. The trade was a 0.02 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 14,000 shares of company stock worth $716,880 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods raised 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, December 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and an average price target of $50.20.

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.