TBH Global Asset Management LLC Reduces Stock Holdings in FB Financial Co. (NYSE:FBK)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wasatch Advisors LP grew its stake in FB Financial by 4.7% during the 3rd quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after buying an additional 55,071 shares during the last quarter. Geode Capital Management LLC lifted its position in FB Financial by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after acquiring an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. lifted its position in FB Financial by 4.1% during the 3rd 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 during the period. Allspring Global Investments Holdings LLC lifted its position in FB Financial by 1.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock worth $12,067,000 after acquiring an additional 4,435 shares during the period. Finally, Principal Financial Group Inc. lifted its position in FB Financial by 3.7% during the 4th quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider’s stock worth $9,591,000 after acquiring an additional 6,612 shares during the period. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Down 1.2 %

Shares of FBK stock opened at $51.11 on Friday. The stock has a market cap of $2.38 billion, a PE ratio of 20.69 and a beta of 1.15. The business has a 50-day simple moving average of $52.27 and a 200-day simple moving average of $50.32. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88.

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

FB Financial Increases Dividend

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

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price of $51.86 per share, for a total transaction of $103,720.00. Following the purchase, the insider now directly owns 10,911,841 shares in the company, valued at approximately $565,888,074.26. This trade represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 14,000 shares of company stock worth $716,880 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

FBK has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group cut 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus 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.