Persistent Asset Partners Ltd Purchases Shares of 20,455 FB Financial Corporation $FBK

Persistent Asset Partners Ltd purchased a new position in shares of FB Financial Corporation (NYSE:FBK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,455 shares of the financial services provider’s stock, valued at approximately $1,140,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of FB Financial by 21.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 266,327 shares of the financial services provider’s stock valued at $14,845,000 after buying an additional 47,278 shares during the last quarter. M Holdings Securities Inc. acquired a new position in FB Financial in the second quarter valued at $794,000. Principal Financial Group Inc. grew its holdings in shares of FB Financial by 18.3% during the third quarter. Principal Financial Group Inc. now owns 202,784 shares of the financial services provider’s stock worth $11,303,000 after purchasing an additional 31,382 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of FB Financial during the third quarter worth about $48,674,000. Finally, 12th Street Asset Management Company LLC lifted its holdings in shares of FB Financial by 10.3% in the 3rd quarter. 12th Street Asset Management Company LLC now owns 211,398 shares of the financial services provider’s stock valued at $11,783,000 after purchasing an additional 19,717 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

FB Financial Price Performance

NYSE FBK opened at $58.44 on Friday. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $62.37. The firm has a market capitalization of $3.12 billion, a P/E ratio of 24.35 and a beta of 1.00. The business’s 50-day simple moving average is $58.38 and its 200-day simple moving average is $55.60.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.14 by $0.02. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. The firm had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. During the same quarter last year, the firm posted $0.85 earnings per share. On average, equities research analysts expect that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a $0.21 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.84 annualized dividend and a yield of 1.4%. This is an increase from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is currently 35.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $65.00 in a research note on Friday, January 23rd. Finally, Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, FB Financial presently has an average rating of “Moderate Buy” and an average price target of $61.20.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.