Summit Global Investments Takes Position in FB Financial Co. (NYSE:FBK)

Summit Global Investments acquired a new stake in FB Financial Co. (NYSE:FBK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 18,826 shares of the financial services provider's stock, valued at approximately $970,000.

Several other large investors have also made changes to their positions in FBK. Raymond James Financial Inc. purchased a new stake in FB Financial in the 4th quarter worth $9,546,000. 12th Street Asset Management Company LLC grew its position in shares of 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 period. Wasatch Advisors LP increased its stake in shares of FB Financial by 4.7% during the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider's stock worth $57,529,000 after purchasing an additional 55,071 shares in the last quarter. Jane Street Group LLC raised its position in shares of FB Financial by 120.6% during the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider's stock worth $3,355,000 after purchasing an additional 39,086 shares during the last quarter. Finally, Barclays PLC raised its position in shares of FB Financial by 58.3% during the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock worth $4,415,000 after purchasing an additional 34,633 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on FBK. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods lifted their price target 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 FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $52.60.

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FB Financial Price Performance

Shares of NYSE:FBK traded down $0.07 during midday trading on Thursday, hitting $47.97. The company had a trading volume of 132,115 shares, compared to its average volume of 143,451. 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 $2.24 billion, a price-to-earnings ratio of 19.42 and a beta of 1.16. The business's 50-day simple moving average is $50.27 and its 200-day simple moving average is $50.77.

FB Financial (NYSE:FBK - Get Free Report) last issued its 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, sell-side analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is an increase 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%. FB Financial's payout ratio is 30.77%.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of FB Financial stock in a transaction on Friday, January 31st. The shares were bought at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the transaction, the insider now directly owns 10,919,841 shares of the company's stock, valued at $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 14,000 shares of company stock worth $710,180 in the last ninety days. 1.70% of the stock is owned by insiders.

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.