Wasatch Advisors LP Has $57.57 Million Position in FB Financial Co. (NYSE:FBK)

Wasatch Advisors LP lowered its stake in shares of FB Financial Co. (NYSE:FBK - Free Report) by 8.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,117,710 shares of the financial services provider's stock after selling 108,128 shares during the quarter. Wasatch Advisors LP owned about 2.40% of FB Financial worth $57,573,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of FBK. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in FB Financial by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider's stock valued at $19,383,000 after buying an additional 2,943 shares during the last quarter. Federated Hermes Inc. increased its position in FB Financial by 3.0% in the 4th quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider's stock worth $17,510,000 after buying an additional 9,995 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock worth $13,544,000 after buying an additional 196,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 1.9% in 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 during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

Shares of FBK stock traded up $0.08 during trading hours on Friday, hitting $40.56. The company had a trading volume of 289,586 shares, compared to its average volume of 165,433. FB Financial Co. has a 12 month low of $34.50 and a 12 month high of $58.88. The firm's fifty day moving average is $46.33 and its 200 day moving average is $50.18. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 16.42 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The business had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter in the previous year, the firm earned $0.85 EPS. On average, sell-side analysts expect that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This is a positive change from FB Financial's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. FB Financial's dividend payout ratio (DPR) is presently 27.94%.

Insider Buying and Selling at FB Financial

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FBK shares. Stephens cut their target price on shares of 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 cut their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday. Keefe, Bruyette & Woods decreased their target price on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a research report on Thursday. Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and reduced their price objective for the stock from $60.00 to $59.00 in a research report on Tuesday, April 1st. Finally, StockNews.com raised FB Financial from a "sell" rating to a "hold" rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.80.

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.