Persistent Asset Partners Ltd Buys Shares of 20,455 FB Financial Corporation $FBK

Persistent Asset Partners Ltd purchased a new position in FB Financial Corporation (NYSE:FBK) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,455 shares of the financial services provider’s stock, valued at approximately $1,140,000.

Other hedge funds have also recently made changes to their positions in the company. Investors Research Corp bought a new position in FB Financial in the third quarter worth about $26,000. UMB Bank n.a. raised its stake in shares of FB Financial by 155.9% during the 3rd quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 293 shares in the last quarter. Tripletail Wealth Management LLC purchased a new stake in FB Financial during the third quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its stake in FB Financial by 1,152.2% in the second quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 795 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of FB Financial by 294.7% during the 3rd quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 557 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Performance

Shares of FBK stock opened at $58.44 on Friday. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $62.37. The firm has a market capitalization of $3.12 billion, a P/E ratio of 24.35 and a beta of 1.00. The stock’s fifty day moving average is $58.38 and its two-hundred day moving average is $55.60.

FB Financial (NYSE:FBK) last posted its quarterly 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 net margin of 13.07% and a return on equity of 11.21%. The firm had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. During the same period in the previous year, the business posted $0.85 earnings per share. On average, 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 will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial’s payout ratio is presently 35.00%.

Analyst Upgrades and Downgrades

FBK has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $65.00 in a research note on Friday, January 23rd. Finally, Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Four 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 currently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Insider Transactions at FB Financial

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider owned 9,484 shares of the company’s stock, valued at approximately $569,609.04. This represents a 47.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.