Handelsbanken Fonder AB Purchases Shares of 5,500 FB Financial Co. (NYSE:FBK)

Handelsbanken Fonder AB bought a new position in shares of FB Financial Co. (NYSE:FBK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,500 shares of the financial services provider's stock, valued at approximately $283,000.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in FB Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider's stock worth $38,272,000 after acquiring an additional 7,021 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in FB Financial by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider's stock worth $17,521,000 after purchasing an additional 14,797 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of FB Financial by 8.0% in the third quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock valued at $3,134,000 after purchasing an additional 4,918 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FB Financial in the third quarter valued at about $1,557,000. Finally, FMR LLC grew its stake in FB Financial by 42.0% in the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider's stock valued at $335,000 after buying an additional 2,109 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FBK shares. 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. 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 note on Wednesday, December 4th. Finally, StockNews.com upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $50.20.

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Insider Buying and Selling

In other news, major shareholder James W. Ayers bought 2,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was purchased at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the transaction, the insider now owns 10,913,841 shares of the company's stock, valued at $560,971,427.40. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders purchased a total of 16,000 shares of company stock worth $813,900 in the last three months. 1.70% of the stock is owned by corporate insiders.

FB Financial Price Performance

NYSE:FBK traded down $0.23 during mid-day trading on Friday, reaching $47.13. The stock had a trading volume of 30,693 shares, compared to its average volume of 141,480. FB Financial Co. has a 12 month low of $33.35 and a 12 month high of $58.88. The stock has a market capitalization of $2.20 billion, a PE ratio of 19.08 and a beta of 1.15. The stock has a 50-day simple moving average of $51.43 and a two-hundred day simple moving average of $50.74.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping 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%. Equities analysts expect that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.19 per share. 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 dividend yield of 1.61%. FB Financial's payout ratio is 30.77%.

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.