Simplicity Wealth LLC Grows Position in FB Financial Co. (NYSE:FBK)

Simplicity Wealth LLC raised its position in shares of FB Financial Co. (NYSE:FBK) by 59.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,177 shares of the financial services provider’s stock after purchasing an additional 4,912 shares during the quarter. Simplicity Wealth LLC’s holdings in FB Financial were worth $679,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FBK. Point72 Asset Management L.P. purchased a new position in FB Financial during the 3rd quarter valued at approximately $47,000. GAMMA Investing LLC grew its holdings 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 valued at $52,000 after buying an additional 314 shares in the last quarter. KBC Group NV grew its holdings 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 valued at $108,000 after buying an additional 555 shares in the last quarter. Point72 DIFC Ltd purchased a new position in FB Financial during the 3rd quarter valued at approximately $110,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FB Financial in the 3rd quarter valued at approximately $124,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FBK stock opened at $47.03 on Monday. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The firm has a market capitalization of $2.20 billion, a P/E ratio of 19.04 and a beta of 1.16. The stock has a 50 day moving average price of $51.34 and a 200 day moving average price of $50.84.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, February 11th. FB Financial’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FBK shares. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group lowered FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods raised their price objective on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.20.

Insider Buying and Selling

In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, January 6th. The stock was acquired at an average cost of $51.40 per share, for a total transaction of $102,800.00. Following the acquisition, the insider now owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders acquired 16,000 shares of company stock valued at $813,900. 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.