Raymond James Financial Inc. Acquires Shares of 185,331 FB Financial Co. (NYSE:FBK)

Raymond James Financial Inc. purchased a new stake in shares of FB Financial Co. (NYSE:FBK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 185,331 shares of the financial services provider's stock, valued at approximately $9,546,000. Raymond James Financial Inc. owned about 0.40% of FB Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Wasatch Advisors LP grew its stake in FB Financial by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider's stock worth $57,529,000 after buying an additional 55,071 shares during the last quarter. Geode Capital Management LLC boosted its holdings in FB Financial by 0.9% in 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. grew its stake in shares of FB Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider's stock worth $19,383,000 after acquiring an additional 2,943 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FB Financial by 1.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider's stock valued at $12,067,000 after acquiring an additional 4,435 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of FB Financial by 3.7% in the 4th quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider's stock valued at $9,591,000 after purchasing an additional 6,612 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Remove Ads

FB Financial Trading Down 1.0 %

Shares of FBK stock traded down $0.47 during trading hours on Tuesday, hitting $48.02. The company's stock had a trading volume of 135,146 shares, compared to its average volume of 143,203. The stock has a market cap of $2.24 billion, a PE ratio of 19.44 and a beta of 1.16. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88. The company has a 50 day moving average of $50.42 and a 200 day moving average of $50.77.

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, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, analysts anticipate that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced 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. This represents a $0.76 annualized dividend and a yield of 1.58%. This is a positive change from FB Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio (DPR) is 30.77%.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average price 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 in the company, valued at $560,971,427.40. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 14,000 shares of company stock worth $710,180. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Piper Sandler raised shares of FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods raised their target price on FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $52.60.

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.