Atria Investments Inc Boosts Stock Holdings in FB Financial Co. (NYSE:FBK)

Atria Investments Inc increased its stake in FB Financial Co. (NYSE:FBK - Free Report) by 75.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,651 shares of the financial services provider's stock after acquiring an additional 6,716 shares during the quarter. Atria Investments Inc's holdings in FB Financial were worth $806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FBK. Point72 Asset Management L.P. acquired a new position in shares of FB Financial during the 3rd quarter valued at about $47,000. GAMMA Investing LLC increased its stake in FB Financial by 45.2% during the fourth 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 increased its stake in FB Financial by 36.2% during the fourth 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 stake in shares of FB Financial during the third quarter worth approximately $110,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FB Financial during the third quarter worth approximately $124,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

FB Financial Price Performance

NYSE:FBK opened at $45.29 on Friday. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88. The business has a 50 day simple moving average of $50.85 and a 200 day simple moving average of $50.74. The firm has a market capitalization of $2.11 billion, a P/E ratio of 18.34 and a beta of 1.16.

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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 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%. Research analysts anticipate that FB Financial Co. will post 3.64 EPS for the current fiscal 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 given a $0.19 dividend. 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 1.68%. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FBK. StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Piper Sandler upgraded 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. Keefe, Bruyette & Woods raised their price target on FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Hovde Group cut 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $52.60.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was bought at an average price of $48.46 per share, for a total transaction of $96,920.00. Following the purchase, the insider now owns 10,917,841 shares in the company, valued at $529,078,574.86. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 16,000 shares of company stock valued at $813,900 in the last three months. Insiders own 1.70% of the company's stock.

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.

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