Handelsbanken Fonder AB Acquires New Holdings in FB Financial Co. (NYSE:FBK)

Handelsbanken Fonder AB bought a new position in shares of FB Financial Co. (NYSE:FBK) in the fourth quarter, Holdings Channel reports. The firm bought 5,500 shares of the financial services provider’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBK. Geode Capital Management LLC boosted its holdings in shares of FB Financial by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after buying an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. lifted its position in FB Financial by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after acquiring an additional 14,797 shares during the last quarter. JPMorgan Chase & Co. lifted its position in FB Financial by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock worth $3,134,000 after acquiring an additional 4,918 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in FB Financial during the third quarter valued at about $1,557,000. Finally, FMR LLC grew its position in shares of FB Financial by 42.0% in the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 2,109 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Finally, Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.20.

Insider Activity

In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction dated Monday, January 6th. The shares were acquired at an average price of $51.40 per share, with a total value of $102,800.00. Following the acquisition, the insider now owns 10,913,841 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 14,000 shares of company stock worth $716,880. Company insiders own 1.70% of the company’s stock.

FB Financial Trading Down 0.3 %

Shares of NYSE FBK opened at $50.39 on Tuesday. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 20.40 and a beta of 1.15. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The business has a fifty day simple moving average of $51.71 and a 200 day simple moving average of $50.76.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts anticipate that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.51%. FB Financial’s dividend payout ratio (DPR) is currently 30.77%.

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.