Franklin Resources Inc. Has $2.01 Million Position in FB Financial Co. (NYSE:FBK)

Franklin Resources Inc. increased its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 103.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,182 shares of the financial services provider's stock after purchasing an additional 21,475 shares during the period. Franklin Resources Inc. owned approximately 0.09% of FB Financial worth $2,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Raymond James & Associates grew its holdings in shares of FB Financial by 0.9% in the 2nd quarter. Raymond James & Associates now owns 123,362 shares of the financial services provider's stock worth $4,815,000 after purchasing an additional 1,086 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in FB Financial by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider's stock worth $691,000 after buying an additional 300 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of FB Financial by 0.4% during the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider's stock worth $4,346,000 after buying an additional 482 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of FB Financial by 2.7% in the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider's stock valued at $685,000 after acquiring an additional 467 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of FB Financial in the 2nd quarter worth approximately $450,000. Institutional investors own 65.40% of the company's stock.

Insider Buying and Selling at FB Financial

In other news, Director James W. Iv Cross sold 5,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares of the company's stock, valued at $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James W. Ayers acquired 1,500 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the transaction, the insider now directly owns 10,892,341 shares in the company, valued at $540,042,266.78. This represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 15,000 shares of company stock valued at $762,180. Corporate insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. 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 report on Monday, November 18th. StockNews.com downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, November 8th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $50.20.

FB Financial Stock Performance

FB Financial stock traded down $0.86 during trading hours on Friday, reaching $51.69. 107,136 shares of the company's stock traded hands, compared to its average volume of 148,714. FB Financial Co. has a fifty-two week low of $33.35 and a fifty-two week high of $58.88. The firm's 50 day moving average is $53.59 and its 200-day moving average is $47.21. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 22.57 and a beta of 1.15.

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

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, November 5th. FB Financial's dividend payout ratio is currently 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.