Point72 Asset Management L.P. Takes Position in FB Financial Co. (NYSE:FBK)

Point72 Asset Management L.P. purchased a new position in FB Financial Co. (NYSE:FBK) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 1,000 shares of the financial services provider’s stock, valued at approximately $47,000.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its stake in shares of FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after buying an additional 106,553 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in FB Financial by 7.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after acquiring an additional 15,739 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in FB Financial by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock valued at $17,521,000 after purchasing an additional 14,797 shares during the period. Salzhauer Michael bought a new stake in shares of FB Financial in the 2nd quarter valued at approximately $2,596,000. Finally, Raymond James & Associates lifted its stake in shares of FB Financial by 5.0% in the 3rd quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock valued at $6,080,000 after purchasing an additional 6,183 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Insiders Place Their Bets

In other news, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the sale, the director now owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. This represents a 8.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were acquired at an average cost of $48.17 per share, for a total transaction of $96,340.00. Following the completion of the acquisition, the insider now owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 13,000 shares of company stock worth $658,460 in the last ninety days. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. Finally, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, FB Financial has an average rating of “Hold” and a consensus target price of $50.20.

FB Financial Trading Down 0.7 %

NYSE:FBK opened at $55.09 on Friday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 24.06 and a beta of 1.15. FB Financial Co. has a twelve month low of $33.35 and a twelve month high of $58.88. The stock has a fifty day simple moving average of $52.47 and a 200-day simple moving average of $46.07.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.71 EPS. As a group, equities research analysts predict that FB Financial Co. will post 3.38 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. FB Financial’s payout ratio is 29.69%.

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.