Alpha DNA Investment Management LLC Buys Shares of 8,644 FB Financial Co. (NYSE:FBK)

Alpha DNA Investment Management LLC acquired a new position in FB Financial Co. (NYSE:FBK) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,644 shares of the financial services provider’s stock, valued at approximately $406,000.

Other hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. purchased a new position in shares of FB Financial in the third quarter worth approximately $201,000. Charles Schwab Investment Management Inc. increased its position in shares of FB Financial by 4.1% in the third 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 in the last quarter. Intech Investment Management LLC purchased a new position in shares of FB Financial in the third quarter worth approximately $330,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FB Financial in the third quarter worth approximately $1,557,000. Finally, Quest Partners LLC increased its position in shares of FB Financial by 18.0% in the third quarter. Quest Partners LLC now owns 13,610 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of FB Financial stock opened at $56.59 on Monday. The firm has a market capitalization of $2.64 billion, a PE ratio of 24.71 and a beta of 1.12. The company’s fifty day moving average price is $49.78 and its two-hundred day moving average price is $44.43. FB Financial Co. has a 52-week low of $32.09 and a 52-week high of $58.88.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter in the previous year, the company earned $0.71 EPS. Analysts predict that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.20%. FB Financial’s dividend payout ratio (DPR) is 29.69%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Keefe, Bruyette & Woods raised their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. Finally, Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $48.60.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers bought 1,500 shares of the business’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the transaction, the insider now owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This trade represents a 0.01 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 13,000 shares of company stock worth $658,460 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

About FB Financial

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.