Charles Schwab Investment Management Inc. Buys 14,797 Shares of FB Financial Co. (NYSE:FBK)

Charles Schwab Investment Management Inc. lifted its position in shares of FB Financial Co. (NYSE:FBK - Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,345 shares of the financial services provider's stock after purchasing an additional 14,797 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.80% of FB Financial worth $17,521,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider's stock worth $75,623,000 after purchasing an additional 106,553 shares in the last quarter. Millennium Management LLC grew its holdings in shares of FB Financial by 259.9% in the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider's stock valued at $4,628,000 after acquiring an additional 85,620 shares in the last quarter. Salzhauer Michael bought a new position in shares of FB Financial in the second quarter valued at approximately $2,596,000. Rosenthal Henry Capital Advisors Inc. purchased a new stake in shares of FB Financial during the third quarter valued at approximately $1,935,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in FB Financial in the third quarter worth $1,557,000. 65.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares of the company's stock, valued at $524,780,405.97. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $658,460 over the last 90 days. Insiders own 1.70% of the company's stock.

FB Financial Trading Down 0.3 %

Shares of FBK traded down $0.17 during mid-day trading on Friday, reaching $56.51. 98,556 shares of the stock traded hands, compared to its average volume of 137,281. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 24.68 and a beta of 1.15. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The firm has a fifty day moving average price of $51.65 and a 200 day moving average price of $45.68.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter last year, the company posted $0.71 EPS. On average, sell-side analysts anticipate that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. FB Financial's payout ratio is 29.69%.

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.