Intech Investment Management LLC Acquires Shares of 7,025 FB Financial Co. (NYSE:FBK)

Intech Investment Management LLC acquired a new stake in FB Financial Co. (NYSE:FBK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,025 shares of the financial services provider’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of FB Financial by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,424 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of FB Financial by 17.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares during the last quarter. Raymond James & Associates increased its stake in shares of FB Financial by 0.9% during the 2nd quarter. Raymond James & Associates now owns 123,362 shares of the financial services provider’s stock worth $4,815,000 after purchasing an additional 1,086 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of FB Financial by 1.6% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 412 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of FB Financial by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 0.2 %

FBK opened at $56.37 on Wednesday. The company has a 50 day moving average of $51.02 and a 200 day moving average of $45.30. FB Financial Co. has a 12 month low of $33.35 and a 12 month high of $58.88. The company has a market cap of $2.63 billion, a PE ratio of 24.62 and a beta of 1.15.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The firm had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same period last year, the firm earned $0.71 EPS. Research analysts forecast that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

Analyst Ratings Changes

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

Insider Buying and Selling at FB Financial

In other news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder James W. Ayers acquired 1,500 shares of the stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the transaction, the insider now owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This represents a 0.01 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $658,460 in the last three months. Company insiders own 1.70% of the company’s stock.

FB Financial Company 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.