12th Street Asset Management Company LLC Boosts Stock Holdings in FB Financial Co. (NYSE:FBK)

12th Street Asset Management Company LLC raised its holdings in FB Financial Co. (NYSE:FBK) by 65.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,300 shares of the financial services provider’s stock after purchasing an additional 77,885 shares during the period. FB Financial accounts for about 1.7% of 12th Street Asset Management Company LLC’s holdings, making the stock its 23rd biggest position. 12th Street Asset Management Company LLC owned 0.42% of FB Financial worth $10,163,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in shares of FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after buying an additional 314 shares in the last quarter. Albert D Mason Inc. raised its holdings in shares of FB Financial by 1.5% during the 4th quarter. Albert D Mason Inc. now owns 23,474 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 346 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of FB Financial by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock valued at $3,786,000 after buying an additional 356 shares in the last quarter. KBC Group NV boosted its holdings in FB Financial by 36.2% during the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 555 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in FB Financial by 1.9% during the 3rd quarter. Captrust Financial Advisors now owns 34,331 shares of the financial services provider’s stock valued at $1,611,000 after acquiring an additional 631 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 1.5 %

FBK opened at $45.29 on Friday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 18.34 and a beta of 1.16. The company’s 50 day moving average is $50.85 and its 200 day moving average is $50.74. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. As a group, analysts predict that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.19 dividend. The ex-dividend date was Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.68%. FB Financial’s payout ratio is currently 30.77%.

Insider Buying and Selling

In related news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $48.51 per share, for a total transaction of $97,020.00. Following the acquisition, the insider now owns 10,931,841 shares in the company, valued at $530,303,606.91. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have acquired 16,000 shares of company stock valued at $813,900. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group downgraded FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a report on Monday, November 18th. Finally, Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $52.60.

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.