Rafferty Asset Management LLC Has $1.40 Million Stock Position in FB Financial Co. (NYSE:FBK)

Rafferty Asset Management LLC lowered its stake in FB Financial Co. (NYSE:FBK) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,197 shares of the financial services provider’s stock after selling 628 shares during the period. Rafferty Asset Management LLC owned 0.06% of FB Financial worth $1,401,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its holdings in shares of FB Financial by 320.0% during the fourth quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 3,200 shares during the period. ProShare Advisors LLC lifted its holdings in shares of FB Financial by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 10,696 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 3,294 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of FB Financial by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock worth $13,383,000 after purchasing an additional 58,402 shares during the period. Millennium Management LLC lifted its holdings in shares of FB Financial by 17.8% during the fourth quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock worth $16,317,000 after purchasing an additional 47,761 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of FB Financial by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider’s stock worth $1,041,000 after purchasing an additional 790 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James W. Iv Cross purchased 7,200 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was bought at an average cost of $40.49 per share, with a total value of $291,528.00. Following the completion of the purchase, the director now owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. This represents a 13.31% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.90% of the company’s stock.

FB Financial Stock Down 3.5%

Shares of NYSE FBK opened at $43.75 on Thursday. FB Financial Co. has a twelve month low of $34.50 and a twelve month high of $58.88. The firm has a fifty day simple moving average of $43.99 and a 200 day simple moving average of $49.56. The company has a market capitalization of $2.01 billion, a PE ratio of 17.71 and a beta of 0.93.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The business had revenue of $130.67 million during the quarter, compared to the consensus estimate of $132.28 million. During the same quarter last year, the firm earned $0.85 earnings per share. As a group, equities analysts expect that FB Financial Co. will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial’s dividend payout ratio (DPR) is currently 27.94%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens cut their price target on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Piper Sandler cut their price target on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.80.

About FB Financial

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.