Quest Partners LLC Boosts Stock Holdings in FB Financial Co. (NYSE:FBK)

Quest Partners LLC boosted its stake in FB Financial Co. (NYSE:FBK) by 18.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,610 shares of the financial services provider’s stock after purchasing an additional 2,072 shares during the quarter. Quest Partners LLC’s holdings in FB Financial were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in shares of FB Financial in the third quarter worth about $84,000. Entropy Technologies LP purchased a new stake in shares of FB Financial during the 3rd quarter worth approximately $202,000. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the 1st quarter worth approximately $165,000. Renaissance Technologies LLC bought a new position in shares of FB Financial during the 2nd quarter valued at approximately $217,000. Finally, ProShare Advisors LLC grew its holdings in shares of FB Financial by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 494 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on FBK. Keefe, Bruyette & Woods increased their price objective on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.60.

FB Financial Trading Up 2.6 %

FBK stock opened at $56.58 on Friday. FB Financial Co. has a 12 month low of $32.09 and a 12 month high of $58.88. The stock has a market cap of $2.64 billion, a PE ratio of 24.71 and a beta of 1.12. The company has a 50-day moving average price of $49.78 and a 200 day moving average price of $44.34.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The firm had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Sell-side analysts forecast that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. FB Financial’s dividend payout ratio (DPR) is 29.69%.

Insider Activity

In related news, major shareholder James W. Ayers acquired 1,500 shares of the stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $49.58 per share, with a total value of $74,370.00. Following the transaction, the insider now directly owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now directly owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 13,000 shares of company stock valued at $658,460. 1.70% of the stock is currently owned by company insiders.

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.