Allspring Global Investments Holdings LLC Increases Stock Holdings in FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC raised its holdings in FB Financial Co. (NYSE:FBK - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 229,829 shares of the financial services provider's stock after acquiring an additional 15,739 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.49% of FB Financial worth $10,786,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. nVerses Capital LLC bought a new stake in FB Financial during the third quarter worth about $84,000. SG Americas Securities LLC bought a new stake in FB Financial in the 1st quarter worth approximately $165,000. Renaissance Technologies LLC purchased a new stake in FB Financial in the second quarter worth approximately $217,000. ProShare Advisors LLC grew its position in FB Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider's stock valued at $269,000 after acquiring an additional 494 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of FB Financial by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider's stock worth $277,000 after acquiring an additional 1,067 shares in the last quarter. Institutional investors own 65.40% of the company's stock.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction dated Monday, October 21st. The shares were purchased at an average cost of $48.17 per share, with a total value of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder James W. Ayers acquired 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the acquisition, the insider now directly owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers bought 1,500 shares of the business's stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the purchase, the insider now owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,500 shares of company stock worth $363,830. 1.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FBK has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of FB Financial from $48.00 to $50.00 and gave the company a "market perform" rating in a report on Wednesday, October 16th. Hovde Group raised their price objective on FB Financial from $52.50 to $56.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. Piper Sandler cut FB Financial from an "overweight" rating to a "neutral" rating and increased their target price for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Stephens reaffirmed an "overweight" rating and issued a $45.00 price target on shares of FB Financial in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, FB Financial presently has a consensus rating of "Hold" and a consensus target price of $47.80.

FB Financial Stock Down 1.8 %

Shares of NYSE:FBK traded down $0.86 during midday trading on Friday, reaching $47.79. The company's stock had a trading volume of 160,306 shares, compared to its average volume of 127,843. The firm has a 50 day moving average of $46.92 and a 200-day moving average of $42.06. The firm has a market capitalization of $2.25 billion, a P/E ratio of 20.87 and a beta of 1.13. FB Financial Co. has a 12-month low of $28.58 and a 12-month high of $51.40.

FB Financial (NYSE:FBK - Get Free Report) last announced its 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 net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter last year, the firm earned $0.71 earnings per share. On average, research analysts predict that FB Financial Co. will post 3.34 EPS for the current year.

About FB Financial

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.