FB Financial Corporation $FBK Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in FB Financial Corporation (NYSE:FBK) by 39.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,868 shares of the financial services provider’s stock after purchasing an additional 46,383 shares during the period. Public Sector Pension Investment Board owned approximately 0.30% of FB Financial worth $9,134,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FBK. AQR Capital Management LLC grew its position in FB Financial by 23.8% in the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after buying an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FB Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after acquiring an additional 930 shares during the period. Millennium Management LLC lifted its stake in shares of FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after acquiring an additional 37,385 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of FB Financial in the first quarter valued at about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of FB Financial by 39.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after acquiring an additional 22,662 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 0.5%

Shares of FB Financial stock opened at $58.96 on Tuesday. The company has a 50-day moving average of $58.36 and a two-hundred day moving average of $55.48. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $62.37. The stock has a market cap of $3.15 billion, a PE ratio of 24.57 and a beta of 1.00.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The business had revenue of $178.36 million for the quarter, compared to analyst estimates of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same quarter in the previous year, the company earned $0.85 EPS. On average, sell-side analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.4%. This is a positive change from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, February 10th. FB Financial’s dividend payout ratio is currently 35.00%.

Insiders Place Their Bets

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the sale, the insider directly owned 9,484 shares in the company, valued at $569,609.04. The trade was a 47.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FBK shares. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $65.00 in a research report on Friday, January 23rd. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

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.