SG Americas Securities LLC Acquires 12,912 Shares of FB Financial Corporation $FBK

SG Americas Securities LLC increased its holdings in shares of FB Financial Corporation (NYSE:FBK) by 230.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,526 shares of the financial services provider’s stock after buying an additional 12,912 shares during the period. SG Americas Securities LLC’s holdings in FB Financial were worth $1,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FBK. AQR Capital Management LLC lifted its position in FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after acquiring an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in FB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after acquiring an additional 930 shares during the last quarter. Millennium Management LLC lifted its position in FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after acquiring an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in FB Financial during the first quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after acquiring an additional 22,662 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 sale, the insider owned 9,484 shares in the company, valued at $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on FBK. Raymond James Financial raised shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 target price for the company in a research report on Tuesday. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a report on Thursday, April 2nd. Finally, Weiss Ratings cut shares of FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $62.75.

FB Financial Stock Performance

FBK stock opened at $55.87 on Thursday. The firm has a market cap of $2.90 billion, a PE ratio of 23.28 and a beta of 0.98. The firm’s fifty day moving average is $55.22 and its 200 day moving average is $55.97. FB Financial Corporation has a one year low of $39.15 and a one year high of $62.37.

FB Financial (NYSE:FBK) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (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 business had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. During the same quarter last year, the business earned $0.85 earnings per share. Research analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, February 10th. FB Financial’s dividend payout ratio (DPR) is 35.00%.

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.