AlphaQuest LLC Sells 6,266 Shares of FB Financial Co. (NYSE:FBK)

AlphaQuest LLC cut its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 46.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,344 shares of the financial services provider's stock after selling 6,266 shares during the period. AlphaQuest LLC's holdings in FB Financial were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in FBK. Raymond James Financial Inc. bought a new position in shares of FB Financial in the 4th quarter worth about $9,546,000. Wasatch Advisors LP raised its position in shares of FB Financial by 4.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider's stock worth $57,529,000 after acquiring an additional 55,071 shares in the last quarter. Jane Street Group LLC raised its position in shares of FB Financial by 120.6% in the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider's stock worth $3,355,000 after acquiring an additional 39,086 shares in the last quarter. Barclays PLC raised its position in shares of FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock worth $4,415,000 after acquiring an additional 34,633 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FB Financial in the 3rd quarter worth about $1,557,000. 65.40% of the stock is owned by institutional investors.

Insider Buying and Selling at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $48.51 per share, with a total value of $97,020.00. Following the transaction, the insider now directly owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 16,000 shares of company stock worth $813,900. Insiders own 1.70% of the company's stock.

FB Financial Stock Performance

FBK stock opened at $45.29 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of 18.34 and a beta of 1.16. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The business has a 50-day simple moving average of $50.85 and a two-hundred day simple moving average of $50.74.

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FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared 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 represents a $0.76 dividend on an annualized basis and a yield of 1.68%. This is an increase from FB Financial's previous quarterly dividend of $0.17. FB Financial's payout ratio is 30.77%.

Analyst Upgrades and Downgrades

FBK has been the subject of several research analyst reports. StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 target price for the company in a research note on Tuesday. Finally, Hovde Group downgraded FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 target price for the company. in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $52.60.

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.

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