Banc Funds Co. LLC Purchases Shares of 178,496 FB Financial Corporation $FBK

Banc Funds Co. LLC purchased a new stake in FB Financial Corporation (NYSE:FBK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 178,496 shares of the financial services provider’s stock, valued at approximately $9,949,000. FB Financial accounts for about 1.7% of Banc Funds Co. LLC’s investment portfolio, making the stock its 15th biggest holding. Banc Funds Co. LLC owned approximately 0.33% of FB Financial as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in FB Financial by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,957,794 shares of the financial services provider’s stock worth $164,867,000 after acquiring an additional 483,191 shares during the period. Dimensional Fund Advisors LP lifted its position in FB Financial by 5.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,019,971 shares of the financial services provider’s stock worth $112,592,000 after acquiring an additional 109,318 shares during the last quarter. State Street Corp boosted its holdings in FB Financial by 4.9% during the second quarter. State Street Corp now owns 1,621,116 shares of the financial services provider’s stock valued at $73,437,000 after acquiring an additional 75,951 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of FB Financial in the third quarter valued at about $48,674,000. Finally, Bank of America Corp DE grew its position in shares of FB Financial by 0.8% in the third quarter. Bank of America Corp DE now owns 817,944 shares of the financial services provider’s stock valued at $45,592,000 after purchasing an additional 6,498 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FBK. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $65.00 in a research note on Friday, January 23rd. Wall Street Zen raised FB Financial from a “sell” rating to a “hold” rating in a report 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, FB Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

FB Financial Stock Performance

Shares of FBK opened at $51.15 on Friday. The company has a 50-day simple moving average of $57.46 and a 200-day simple moving average of $56.11. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $62.37. The firm has a market capitalization of $2.65 billion, a P/E ratio of 21.31 and a beta of 0.99.

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

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. 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. FB Financial’s payout ratio is 35.00%.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on 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. The trade was a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.90% of the company’s stock.

FB Financial 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.