8,033 Shares in FB Financial Co. (NYSE:FBK) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of FB Financial Co. (NYSE:FBK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,033 shares of the financial services provider's stock, valued at approximately $414,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of FB Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider's stock valued at $38,272,000 after purchasing an additional 7,021 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 14,797 shares during the period. JPMorgan Chase & Co. boosted its position in FB Financial by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock worth $3,134,000 after purchasing an additional 4,918 shares during the period. FMR LLC boosted its position in shares of FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider's stock worth $335,000 after buying an additional 2,109 shares during the period. Finally, SG Americas Securities LLC grew its position in FB Financial by 39.7% in the fourth quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider's stock valued at $1,022,000 after acquiring an additional 5,642 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average price of $48.46 per share, with a total value of $96,920.00. Following the acquisition, the insider now directly owns 10,917,841 shares in the company, valued at approximately $529,078,574.86. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 10,000 shares of company stock valued at $506,860 over the last three months. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

FBK has been the subject of several recent analyst reports. Stephens lowered their target price on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler increased their price objective on shares of FB Financial from $58.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Hovde Group raised shares of 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $55.40.

FB Financial Stock Performance

Shares of FB Financial stock traded up $3.07 during trading hours on Wednesday, reaching $43.00. The company's stock had a trading volume of 392,732 shares, compared to its average volume of 162,885. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The company's 50 day simple moving average is $48.07 and its 200 day simple moving average is $50.48. The stock has a market cap of $2.01 billion, a P/E ratio of 17.41 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating 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%. On average, sell-side analysts predict that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This is an increase from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio is presently 30.77%.

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.