TBH Global Asset Management LLC Cuts Position in FB Financial Co. (NYSE:FBK)

TBH Global Asset Management LLC lessened its holdings in FB Financial Co. (NYSE:FBK) by 64.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the financial services provider’s stock after selling 10,000 shares during the period. TBH Global Asset Management LLC’s holdings in FB Financial were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new stake in FB Financial during the 3rd quarter worth approximately $47,000. GAMMA Investing LLC increased its stake in FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after buying an additional 314 shares in the last quarter. KBC Group NV increased its stake in FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after buying an additional 555 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in FB Financial during the 3rd quarter worth approximately $110,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in FB Financial during the 3rd quarter worth approximately $124,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Performance

FBK opened at $51.11 on Friday. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The stock has a market capitalization of $2.38 billion, a PE ratio of 20.69 and a beta of 1.15. The business’s 50 day moving average price is $52.27 and its 200 day moving average price is $50.32.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities research analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.49%. FB Financial’s dividend payout ratio is currently 30.77%.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were bought at an average cost of $51.83 per share, for a total transaction of $103,660.00. Following the completion of the purchase, the insider now directly owns 10,927,841 shares of the company’s stock, valued at approximately $566,389,999.03. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 14,000 shares of company stock worth $716,880 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.20.

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.