Federated Hermes Inc. Buys 9,995 Shares of FB Financial Co. (NYSE:FBK)

Federated Hermes Inc. raised its stake in FB Financial Co. (NYSE:FBK - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,938 shares of the financial services provider's stock after acquiring an additional 9,995 shares during the quarter. Federated Hermes Inc. owned approximately 0.73% of FB Financial worth $17,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in FB Financial in the third quarter worth $47,000. GAMMA Investing LLC raised its stake in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 314 shares during the period. KBC Group NV boosted its position 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. LPL Financial LLC purchased a new position in shares of FB Financial in the fourth quarter worth about $206,000. Finally, Lbmc Investment Advisors LLC purchased a new stake in shares of FB Financial during the 4th quarter valued at approximately $220,000. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

FBK traded down $0.32 during midday trading on Tuesday, reaching $40.84. 119,809 shares of the company's stock traded hands, compared to its average volume of 165,023. FB Financial Co. has a 52 week low of $33.35 and a 52 week high of $58.88. The firm has a fifty day moving average of $47.35 and a two-hundred day moving average of $50.39. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.53 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. During the same period in the previous year, the firm earned $0.85 EPS. Sell-side analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.19 dividend. The ex-dividend date was Tuesday, February 11th. 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 1.86%. FB Financial's dividend payout ratio (DPR) is 30.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FBK. Stephens reduced their price target on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler raised their price objective on shares of FB Financial from $58.00 to $60.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.40.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers purchased 2,000 shares of FB Financial stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $52.56 per share, with a total value of $105,120.00. Following the completion of the purchase, the insider now directly owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 8,000 shares of company stock worth $409,940. Company insiders own 1.70% of the company's stock.

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.