SummerHaven Investment Management LLC Acquires 278 Shares of FB Financial Co. (NYSE:FBK)

SummerHaven Investment Management LLC increased its holdings in shares of FB Financial Co. (NYSE:FBK) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,229 shares of the financial services provider’s stock after purchasing an additional 278 shares during the quarter. FB Financial accounts for 0.6% of SummerHaven Investment Management LLC’s holdings, making the stock its 25th biggest position. SummerHaven Investment Management LLC owned approximately 0.05% of FB Financial worth $1,005,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of FBK. Tower Research Capital LLC TRC lifted its holdings in FB Financial by 975.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 10,198 shares during the last quarter. Richard Bernstein Advisors LLC bought a new stake in shares of FB Financial during the third quarter worth about $2,770,000. Illinois Municipal Retirement Fund acquired a new position in shares of FB Financial in the third quarter worth approximately $602,000. Earnest Partners LLC lifted its stake in shares of FB Financial by 6.6% in the third quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock worth $15,822,000 after acquiring an additional 34,601 shares during the period. Finally, Wakefield Asset Management LLLP lifted its stake in shares of FB Financial by 10.7% in the fourth quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock worth $1,007,000 after acquiring an additional 2,447 shares during the period. 65.40% of the stock is owned by institutional investors.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were purchased at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the purchase, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The shares were bought at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now owns 10,884,841 shares of the company’s stock, valued at $390,874,640.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was bought at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the purchase, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The disclosure for this purchase can be found here. 1.70% of the stock is owned by insiders.

FB Financial Stock Performance

Shares of NYSE:FBK traded down $0.38 during mid-day trading on Monday, hitting $37.52. The stock had a trading volume of 19,774 shares, compared to its average volume of 135,957. The company has a market cap of $1.76 billion, a PE ratio of 15.92 and a beta of 1.15. FB Financial Co. has a 12-month low of $24.34 and a 12-month high of $41.00. The company’s 50 day moving average is $36.11 and its 200-day moving average is $35.59.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Monday, February 12th. This is an increase from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

FBK has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $38.00 target price on shares of FB Financial in a research note on Wednesday, April 17th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Stephens lowered their price target on FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 17th. JPMorgan Chase & Co. raised their price objective on shares of FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Finally, Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $40.50 in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.43.

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.