12,755 Shares in FB Financial Co. (NYSE:FBK) Acquired by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in FB Financial Co. (NYSE:FBK - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,755 shares of the financial services provider's stock, valued at approximately $599,000.

Several other large investors have also recently modified their holdings of FBK. Captrust Financial Advisors grew its position in FB Financial by 1.9% during the 3rd quarter. Captrust Financial Advisors now owns 34,331 shares of the financial services provider's stock worth $1,611,000 after acquiring an additional 631 shares during the last quarter. Martingale Asset Management L P bought a new position in shares of FB Financial in the third quarter worth approximately $254,000. BNP Paribas Financial Markets increased its stake in shares of FB Financial by 27.2% in the third quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider's stock worth $458,000 after buying an additional 2,090 shares during the period. FMR LLC raised its holdings in FB Financial by 42.0% during the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider's stock valued at $335,000 after buying an additional 2,109 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in FB Financial by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider's stock valued at $905,000 after buying an additional 1,317 shares during the period. Hedge funds and other institutional investors own 65.40% of the company's stock.

FB Financial Price Performance

FBK traded up $0.47 on Wednesday, hitting $56.15. The company had a trading volume of 120,401 shares, compared to its average volume of 146,936. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a fifty day simple moving average of $52.26 and a 200-day simple moving average of $46.01. The firm has a market capitalization of $2.62 billion, a P/E ratio of 24.52 and a beta of 1.15.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the previous year, the company posted $0.71 earnings per share. Equities research analysts expect that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. FB Financial's payout ratio is 29.69%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods upped their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com cut FB Financial from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Finally, Hovde Group cut FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.20.

Insider Activity at FB Financial

In other news, Director James W. Iv Cross sold 5,000 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares in the company, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James W. Ayers purchased 1,500 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $49.58 per share, for a total transaction of $74,370.00. Following 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 13,000 shares of company stock valued at $658,460 in the last three months. Company insiders own 1.70% of the company's stock.

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.