KLP Kapitalforvaltning AS Purchases New Shares in FB Financial Co. (NYSE:FBK)

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

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in FB Financial during the 4th quarter worth about $9,546,000. 12th Street Asset Management Company LLC raised its stake in shares of FB Financial by 65.2% in the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after acquiring an additional 77,885 shares during the last quarter. Jane Street Group LLC lifted its position in shares of FB Financial by 120.6% during the third quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock worth $3,355,000 after purchasing an additional 39,086 shares in the last quarter. Barclays PLC grew its stake in shares of FB Financial by 58.3% during the third quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after purchasing an additional 34,633 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of FB Financial by 103.7% in the third quarter. Franklin Resources Inc. now owns 42,182 shares of the financial services provider’s stock valued at $2,013,000 after purchasing an additional 21,475 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

FBK has been the topic of several research reports. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Piper Sandler upped their price target on FB Financial from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday. Stephens decreased their price target on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $60.00 to $59.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.40.

FB Financial Stock Down 2.7 %

Shares of FB Financial stock opened at $40.74 on Friday. The business has a fifty day simple moving average of $49.23 and a 200 day simple moving average of $50.71. The stock has a market cap of $1.90 billion, a PE ratio of 16.50 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.

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 the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. Analysts expect that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.87%. FB Financial’s payout ratio is currently 30.77%.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the acquisition, the insider now directly owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. The trade was a 0.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 14,000 shares of company stock valued at $710,180. Company insiders own 1.70% of the company’s stock.

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.