FB Financial Corporation $FBK Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC grew its holdings in shares of FB Financial Corporation (NYSE:FBK) by 82.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,052 shares of the financial services provider’s stock after acquiring an additional 29,486 shares during the period. Rafferty Asset Management LLC’s holdings in FB Financial were worth $3,626,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 21.6% during 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 acquiring an additional 47,278 shares in the last quarter. M Holdings Securities Inc. bought a new position in FB Financial during the second quarter worth about $794,000. Principal Financial Group Inc. boosted its holdings in 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 valued at $11,303,000 after purchasing an additional 31,382 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of FB Financial in the 3rd quarter valued at approximately $48,674,000. Finally, Strs Ohio lifted its position in shares of FB Financial by 9,775.0% during the 3rd quarter. Strs Ohio now owns 118,500 shares of the financial services provider’s stock worth $6,605,000 after buying an additional 117,300 shares during the period. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

FB Financial Stock Performance

Shares of NYSE FBK opened at $54.06 on Wednesday. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $62.37. The stock has a market capitalization of $2.80 billion, a PE ratio of 22.53 and a beta of 0.99. The stock has a 50 day moving average price of $58.19 and a 200 day moving average price of $56.13.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. FB Financial had a net margin of 13.07% and a return on equity of 11.21%. During the same period in the previous year, the business earned $0.85 EPS. As a group, research analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. FB Financial’s payout ratio is currently 35.00%.

Insider Buying and Selling

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of FB Financial stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the sale, the insider owned 9,484 shares in the company, valued at $569,609.04. The trade was a 47.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company’s stock.

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.