Charles Schwab Investment Management Inc. Acquires 6,994 Shares of FB Financial Co. (NYSE:FBK)


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Charles Schwab Investment Management Inc. lifted its holdings in FB Financial Co. (NYSE:FBK) by 3.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 208,203 shares of the financial services provider’s stock after purchasing an additional 6,994 shares during the period. Charles Schwab Investment Management Inc. owned about 0.44% of FB Financial worth $7,231,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in FB Financial in the 4th quarter worth approximately $69,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in FB Financial by 51.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,613 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,223 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in FB Financial in the 3rd quarter worth approximately $169,000. Brookstone Capital Management purchased a new stake in FB Financial in the 4th quarter worth approximately $251,000. Finally, ProShare Advisors LLC purchased a new stake in FB Financial in the 4th quarter worth approximately $264,000. 58.03% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on FBK shares. Zacks Investment Research raised shares of FB Financial from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, April 6th. Truist increased their price objective on shares of FB Financial from $43.00 to $53.00 in a report on Monday, March 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.50.

In other news, insider Timothy L. Johnson sold 10,583 shares of the stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $45.00, for a total transaction of $476,235.00. Also, Director James W. Iv Cross sold 1,500 shares of the stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $43.55, for a total value of $65,325.00. Following the transaction, the director now owns 48,417 shares of the company’s stock, valued at $2,108,560.35. The disclosure for this sale can be found here. Insiders have sold a total of 15,215 shares of company stock valued at $670,317 over the last quarter. Corporate insiders own 45.20% of the company’s stock.

Shares of FBK opened at $42.30 on Friday. The firm has a market cap of $2.00 billion, a P/E ratio of 33.57 and a beta of 1.27. FB Financial Co. has a 1 year low of $17.71 and a 1 year high of $49.62. The company has a 50 day simple moving average of $45.14 and a two-hundred day simple moving average of $36.50.

FB Financial (NYSE:FBK) last posted its earnings results on Sunday, January 24th. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $165.88 million during the quarter, compared to the consensus estimate of $164.37 million. FB Financial had a return on equity of 12.36% and a net margin of 7.27%. As a group, equities research analysts expect that FB Financial Co. will post 2.96 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 22nd. Stockholders of record on Monday, February 8th were given a dividend of $0.11 per share. This is an increase from FB Financial’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, February 5th. FB Financial’s dividend payout ratio is currently 15.55%.

FB Financial Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.

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Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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