Point72 Asset Management L.P. Boosts Stock Holdings in FB Financial Co. (NYSE:FBK)

Point72 Asset Management L.P. grew its position in shares of FB Financial Co. (NYSE:FBK) by 320.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,200 shares of the financial services provider’s stock after acquiring an additional 3,200 shares during the quarter. Point72 Asset Management L.P.’s holdings in FB Financial were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of FB Financial by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 10,696 shares of the financial services provider’s stock worth $551,000 after buying an additional 3,294 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of FB Financial by 29.0% in the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock worth $13,383,000 after buying an additional 58,402 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of FB Financial by 17.8% in the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock worth $16,317,000 after buying an additional 47,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of FB Financial by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider’s stock worth $1,041,000 after buying an additional 790 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of FB Financial by 2.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 129,939 shares of the financial services provider’s stock worth $6,693,000 after buying an additional 3,159 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the acquisition, the insider now owns 10,931,841 shares in the company, valued at $530,303,606.91. This represents a 0.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James W. Iv Cross purchased 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The stock was purchased at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the acquisition, 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FBK. 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. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price objective on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Piper Sandler lowered their price objective on FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.80.

FB Financial Stock Performance

Shares of FB Financial stock opened at $43.60 on Friday. FB Financial Co. has a 52-week low of $34.50 and a 52-week high of $58.88. The stock’s 50-day simple moving average is $43.87 and its 200 day simple moving average is $49.45. The stock has a market capitalization of $2.00 billion, a P/E ratio of 17.65 and a beta of 0.93.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) 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 firm had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. During the same period in the prior year, the firm posted $0.85 earnings per share. Equities research analysts forecast that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, May 13th. FB Financial’s payout ratio is 27.94%.

FB Financial 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.