Allspring Global Investments Holdings LLC Has $12.07 Million Holdings in FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC grew its holdings in FB Financial Co. (NYSE:FBK) by 1.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 234,264 shares of the financial services provider’s stock after acquiring an additional 4,435 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in FB Financial were worth $12,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FBK. Geode Capital Management LLC raised its position in FB Financial by 0.9% during 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 position in shares of FB Financial by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock valued at $17,521,000 after acquiring an additional 14,797 shares during the period. Raymond James & Associates grew its position in shares of FB Financial by 5.0% in the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after acquiring an additional 6,183 shares during the period. JPMorgan Chase & Co. grew its position in shares of FB Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock valued at $3,134,000 after acquiring an additional 4,918 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FB Financial in the 3rd quarter valued at about $1,557,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was acquired at an average price of $51.40 per share, for a total transaction of $102,800.00. Following the purchase, the insider now directly owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired 14,000 shares of company stock worth $716,880 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

FB Financial Stock Performance

NYSE FBK opened at $52.06 on Tuesday. The firm has a 50-day moving average of $52.50 and a 200-day moving average of $50.20. The stock has a market cap of $2.43 billion, a PE ratio of 21.08 and a beta of 1.15. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th will be paid a $0.19 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, February 11th. This represents a $0.76 annualized dividend and a yield of 1.46%. FB Financial’s payout ratio is 27.53%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Hovde Group downgraded 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 research report on Monday, November 18th. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.20.

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.