FB Financial Co. (NYSE:FBK) Shares Purchased by 12th Street Asset Management Company LLC

12th Street Asset Management Company LLC raised its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 65.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,300 shares of the financial services provider's stock after acquiring an additional 77,885 shares during the period. FB Financial makes up approximately 1.7% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 23rd largest position. 12th Street Asset Management Company LLC owned about 0.42% of FB Financial worth $10,163,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Point72 Asset Management L.P. purchased a new stake in shares of FB Financial in the 3rd quarter valued at approximately $47,000. GAMMA Investing LLC boosted its position in shares of 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 during the period. KBC Group NV boosted its position in shares of 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 purchasing an additional 555 shares during the period. Point72 DIFC Ltd purchased a new position in shares of FB Financial during the 3rd quarter worth approximately $110,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of FB Financial during the 3rd quarter worth approximately $124,000. Institutional investors and hedge funds own 65.40% of the company's stock.

Insider Buying and Selling

In related news, major shareholder James W. Ayers purchased 2,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were purchased at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 16,000 shares of company stock worth $813,900 in the last ninety days. 1.70% of the stock is owned by corporate insiders.

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FB Financial Price Performance

Shares of FBK traded down $0.20 during midday trading on Tuesday, reaching $46.56. The stock had a trading volume of 160,788 shares, compared to its average volume of 141,138. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88. The company's fifty day simple moving average is $50.67 and its two-hundred day simple moving average is $50.78. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 18.85 and a beta of 1.16.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, sell-side analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from FB Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FBK shares. Piper Sandler raised shares of FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price objective for the company in a research report on Tuesday, March 11th. Hovde Group cut shares of FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 price target for the company. in a research report on Monday, November 18th. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of FB Financial from $50.00 to $58.00 and gave the company 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 assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.60.

About FB Financial

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.