FB Financial Co. (NYSE:FBK) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of FB Financial Co. (NYSE:FBK - Free Report) by 8.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,775 shares of the financial services provider's stock after acquiring an additional 4,918 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.14% of FB Financial worth $3,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of FB Financial in the third quarter worth about $47,000. nVerses Capital LLC acquired a new stake in FB Financial in the 3rd quarter valued at about $84,000. Point72 DIFC Ltd purchased a new position in FB Financial in the 3rd quarter worth approximately $110,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of FB Financial during the 3rd quarter worth approximately $124,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of FB Financial in the third quarter valued at approximately $201,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

Insiders Place Their Bets

In related news, Director James W. Iv Cross sold 5,000 shares of FB Financial stock in a transaction 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 transaction, the director now directly owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the business's stock in a transaction on Friday, October 25th. The shares were bought at an average price of $48.13 per share, for a total transaction of $96,260.00. Following the acquisition, the insider now owns 10,902,341 shares in the company, valued at $524,729,672.33. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 17,500 shares of company stock worth $891,710 over the last three months. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

FBK has been the topic of a number of analyst reports. StockNews.com downgraded FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price target on FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Hovde Group lowered shares of FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 price objective for the company. in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $50.20.

FB Financial Stock Performance

Shares of FBK traded up $0.18 during midday trading on Monday, hitting $52.41. 178,805 shares of the stock were exchanged, compared to its average volume of 144,434. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a fifty day simple moving average of $53.88 and a 200 day simple moving average of $48.94. The firm has a market cap of $2.45 billion, a P/E ratio of 22.89 and a beta of 1.16.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.30%. 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.