JPMorgan Chase & Co. Purchases 196,172 Shares of FB Financial Co. (NYSE:FBK)

JPMorgan Chase & Co. raised its position in FB Financial Co. (NYSE:FBK - Free Report) by 293.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,947 shares of the financial services provider's stock after purchasing an additional 196,172 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.56% of FB Financial worth $13,544,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FBK. LPL Financial LLC acquired a new position in FB Financial in the fourth quarter worth approximately $206,000. KLP Kapitalforvaltning AS bought a new stake in FB Financial in the fourth quarter worth approximately $414,000. Summit Global Investments acquired a new position in shares of FB Financial during the 4th quarter worth $970,000. Teacher Retirement System of Texas raised its holdings in shares of FB Financial by 1.6% during the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock valued at $1,315,000 after purchasing an additional 412 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in shares of FB Financial by 136.2% in the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after purchasing an additional 9,570 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Price Performance

FBK stock traded up $0.25 on Thursday, reaching $40.73. 47,460 shares of the company were exchanged, compared to its average volume of 165,027. The firm has a market capitalization of $1.90 billion, a PE ratio of 16.50 and a beta of 0.92. FB Financial Co. has a 12 month low of $34.50 and a 12 month high of $58.88. The stock's fifty day moving average price is $46.82 and its 200 day moving average price is $50.25.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $130.67 million during the quarter, compared to analysts' expectations of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same quarter last year, the company earned $0.85 earnings per share. As a group, research analysts expect 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. Stockholders of record on Tuesday, February 11th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from FB Financial's previous quarterly dividend of $0.17. FB Financial's payout ratio is currently 30.77%.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the transaction, the insider now directly owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. The trade was a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director James W. Iv Cross acquired 7,200 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was acquired at an average price of $40.49 per share, with a total value of $291,528.00. Following the transaction, the director now owns 61,278 shares in the company, valued at approximately $2,481,146.22. The trade was a 13.31 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 15,200 shares of company stock worth $701,468 in the last quarter. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and reduced their price target for the stock from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler upped their target price on FB Financial from $58.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Stephens dropped their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $54.20.

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.