2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. cut its holdings in FB Financial Co. ( NYSE:FBK – Free Report ) by 9.
3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,717 shares of the financial services provider’s stock after selling 19,283 shares during the quarter. Envestnet Asset Management Inc.
owned approximately 0.40% of FB Financial worth $9,721,000 as of its most recent SEC filing. Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company.
Pictet Asset Management Holding SA purchased a new stake in FB Financial during the fourth quarter worth $277,000. JPMorgan Chase & Co. raised its position in shares of FB Financial by 293.
8% in the 4th quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after acquiring an additional 196,172 shares in the last quarter.
LPL Financial LLC purchased a new stake in shares of FB Financial during the 4th quarter worth $206,000. KLP Kapitalforvaltning AS bought a new stake in FB Financial during the fourth quarter valued at about $414,000. Finally, Summit Global Investments purchased a new position in FB Financial in the fourth quarter valued at about $970,000.
65.40% of the stock is currently owned by institutional investors. Analysts Set New Price Targets Several analysts have commented on the stock.
Piper Sandler decreased their price target on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday.
Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st.
Keefe, Bruyette & Woods reduced their price target on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research report on Thursday.
StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Stephens dropped their target price on FB Financial from $65.
00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock.
According to data from MarketBeat.com, FB Financial has a consensus rating of “Hold” and an average price target of $53.80.
Insiders Place Their Bets In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were bought 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 approximately $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 Securities & Exchange Commission, which is available through this link . Also, Director James W. Iv Cross purchased 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th.
The stock was bought at an average cost of $40.49 per share, for a total transaction of $291,528.00.
Following the purchase, the director now directly owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.
31 % increase in their position. The disclosure for this purchase can be found here . In the last ninety days, insiders acquired 15,200 shares of company stock valued at $701,468.
1.70% of the stock is owned by insiders. FB Financial Trading Up 0.
2 % NYSE:FBK opened at $40.56 on Friday. The company has a market capitalization of $1.
89 billion, a P/E ratio of 16.42 and a beta of 0.92.
FB Financial Co. has a 12 month low of $34.50 and a 12 month high of $58.
88. The firm has a fifty day simple moving average of $46.33 and a 200-day simple moving average of $50.
18. FB Financial ( NYSE:FBK – Get Free Report ) last issued its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.
85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $130.
67 million during the quarter, compared to analysts’ expectations of $132.28 million. FB Financial had a return on equity of 10.
43% and a net margin of 15.18%. During the same quarter in the previous year, the firm posted $0.
85 EPS. Equities analysts forecast that FB Financial Co. will post 3.
64 EPS for the current year. FB Financial Increases Dividend The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a $0.
19 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $0.
76 dividend on an annualized basis and a yield of 1.87%. This is a positive change from FB Financial’s previous quarterly dividend of $0.
17. FB Financial’s dividend payout ratio is currently 27.94%.
FB Financial Company Profile ( Free Report ) 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.
Read More Want to see what other hedge funds are holding FBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FB Financial Co. ( NYSE:FBK – Free Report ).
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