SG Americas Securities LLC Increases Holdings in FB Financial Corporation $FBK

SG Americas Securities LLC grew its holdings in shares of FB Financial Corporation (NYSE:FBK) by 230.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,526 shares of the financial services provider’s stock after buying an additional 12,912 shares during the quarter. SG Americas Securities LLC’s holdings in FB Financial were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Investors Research Corp bought a new position in FB Financial during the 3rd quarter valued at about $26,000. UMB Bank n.a. grew its holdings 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 valued at $27,000 after purchasing an additional 293 shares during the last quarter. Tripletail Wealth Management LLC bought a new position in FB Financial during the 3rd quarter valued at about $31,000. Bessemer Group Inc. grew its holdings in 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. Finally, First Horizon Corp bought a new position in FB Financial during the 3rd quarter valued at about $45,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Performance

NYSE FBK opened at $55.87 on Thursday. The firm’s 50 day moving average price is $55.22 and its 200-day moving average price is $55.97. FB Financial Corporation has a 52-week low of $39.15 and a 52-week high of $62.37. The company has a market cap of $2.90 billion, a PE ratio of 23.28 and a beta of 0.98.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $176.30 million. During the same period last year, the firm earned $0.85 earnings per share. On average, analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th were paid a dividend of $0.21 per share. 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 1.5%. The ex-dividend date was Tuesday, February 10th. FB Financial’s payout ratio is 35.00%.

Insider Activity

In other news, major shareholder James Austin Mcpherson sold 8,500 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the transaction, the insider directly owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings downgraded shares of FB Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $65.00 price target on the stock in a report on Thursday, April 2nd. Finally, Raymond James Financial upgraded shares of FB Financial from a “market perform” rating to a “strong-buy” rating and set a $62.00 price target on the stock in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $62.75.

About FB Financial

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.