Strs Ohio Grows Stake in FB Financial Corporation $FBK

Strs Ohio grew its stake in shares of FB Financial Corporation (NYSE:FBK) by 9,775.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,500 shares of the financial services provider’s stock after purchasing an additional 117,300 shares during the quarter. Strs Ohio’s holdings in FB Financial were worth $6,605,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FBK. Deprince Race & Zollo Inc. purchased a new stake in shares of FB Financial during the 3rd quarter valued at about $48,674,000. CapWealth Advisors LLC boosted its holdings in FB Financial by 3,756.7% in the 3rd quarter. CapWealth Advisors LLC now owns 331,752 shares of the financial services provider’s stock worth $18,492,000 after acquiring an additional 323,150 shares during the period. Qube Research & Technologies Ltd grew its position in FB Financial by 61.8% in the second quarter. Qube Research & Technologies Ltd now owns 315,557 shares of the financial services provider’s stock valued at $14,295,000 after acquiring an additional 120,561 shares in the last quarter. Keystone Financial Group Inc. raised its stake in shares of FB Financial by 229.7% during the third quarter. Keystone Financial Group Inc. now owns 167,152 shares of the financial services provider’s stock valued at $9,317,000 after purchasing an additional 116,459 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of FB Financial by 130.8% during the second quarter. Marshall Wace LLP now owns 140,889 shares of the financial services provider’s stock valued at $6,382,000 after purchasing an additional 79,841 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FBK. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research note on Thursday. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $63.00 to $65.00 in a report on Friday. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 price objective (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Finally, Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.20.

Insider Activity

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This represents a 47.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

FB Financial Stock Performance

Shares of FB Financial stock opened at $58.02 on Tuesday. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $62.37. The firm’s 50-day simple moving average is $57.21 and its 200-day simple moving average is $54.36. The firm has a market cap of $3.10 billion, a PE ratio of 24.18 and a beta of 0.98.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The business had revenue of $178.36 million during the quarter, compared to the consensus estimate of $176.30 million. During the same period last year, the firm earned $0.85 earnings per share. On average, equities analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be issued a $0.21 dividend. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, February 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is presently 31.67%.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.