FB Financial Corporation $FBK Shares Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its stake in FB Financial Corporation (NYSE:FBK) by 82.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,052 shares of the financial services provider’s stock after buying an additional 29,486 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.12% of FB Financial worth $3,626,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Investors Research Corp purchased a new position in FB Financial in the 3rd quarter valued at about $26,000. UMB Bank n.a. boosted its stake in 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 purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC purchased a new stake in shares of FB Financial during the third quarter worth $31,000. Bessemer Group Inc. grew its holdings in shares of FB Financial by 294.7% during the third quarter. Bessemer Group Inc. now owns 746 shares of the financial services provider’s stock worth $41,000 after buying an additional 557 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in shares of FB Financial in the third quarter valued at about $45,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Stock Performance

Shares of FBK stock opened at $54.06 on Wednesday. FB Financial Corporation has a one year low of $38.83 and a one year high of $62.37. The firm’s 50 day moving average price is $58.19 and its 200-day moving average price is $56.13. The firm has a market cap of $2.80 billion, a P/E ratio of 22.53 and a beta of 0.99.

FB Financial (NYSE:FBK) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $176.30 million. During the same period in the prior year, the firm earned $0.85 EPS. As a group, research analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 10th. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s dividend payout ratio is presently 35.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler downgraded 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. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.20.

Insiders Place Their Bets

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $569,609.04. The trade was a 47.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.