Avantax Advisory Services Inc. Sells 4,308 Shares of FB Financial Co. (NYSE:FBK)

Avantax Advisory Services Inc. trimmed its position in shares of FB Financial Co. (NYSE:FBK) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,452 shares of the financial services provider’s stock after selling 4,308 shares during the period. Avantax Advisory Services Inc. owned about 0.07% of FB Financial worth $1,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FBK. Point72 Asset Management L.P. bought a new position in shares of FB Financial during the third quarter valued at approximately $47,000. GAMMA Investing LLC grew its position in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 314 shares during the last quarter. KBC Group NV increased its stake in FB Financial by 36.2% in the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 555 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of FB Financial during the third quarter valued at $110,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FB Financial during the third quarter valued at $124,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Up 1.0 %

FB Financial stock opened at $46.86 on Tuesday. FB Financial Co. has a twelve month low of $33.35 and a twelve month high of $58.88. The business has a fifty day moving average of $50.67 and a two-hundred day moving average of $50.78. The firm has a market cap of $2.19 billion, a P/E ratio of 18.97 and a beta of 1.16.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. Equities analysts expect that FB Financial Co. 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 25th. Investors of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s payout ratio is 30.77%.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the acquisition, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 16,000 shares of company stock valued at $813,900 over the last 90 days. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Tuesday, March 11th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.60.

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.