Allspring Global Investments Holdings LLC Has $8.38 Million Position in FB Financial Co. (NYSE:FBK)

Allspring Global Investments Holdings LLC boosted its position in FB Financial Co. (NYSE:FBK) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,318 shares of the financial services provider’s stock after purchasing an additional 28,786 shares during the period. Allspring Global Investments Holdings LLC owned 0.45% of FB Financial worth $8,381,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its holdings in FB Financial by 1.3% in the 2nd quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock worth $176,641,000 after purchasing an additional 78,805 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of FB Financial by 7.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock valued at $186,833,000 after buying an additional 348,790 shares during the period. Vanguard Group Inc. increased its stake in shares of FB Financial by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,319,852 shares of the financial services provider’s stock valued at $103,047,000 after buying an additional 45,267 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of FB Financial by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,606,696 shares of the financial services provider’s stock valued at $49,934,000 after buying an additional 111,871 shares during the period. Finally, Wasatch Advisors Inc. increased its stake in shares of FB Financial by 17.7% in the first quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock valued at $70,169,000 after buying an additional 237,256 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 3,000 shares of FB Financial stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $35.91 per share, with a total value of $107,730.00. Following the completion of the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,000 shares of company stock worth $256,830. 1.90% of the stock is owned by company insiders.

FB Financial Stock Performance

NYSE:FBK opened at $35.64 on Thursday. FB Financial Co. has a 52-week low of $24.34 and a 52-week high of $41.00. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.97 and a beta of 1.15. The business’s fifty day moving average is $35.96 and its 200 day moving average is $35.11.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a return on equity of 10.34% and a net margin of 14.90%. The company had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. During the same period in the previous year, the company posted $0.85 EPS. Equities analysts predict that FB Financial Co. will post 2.84 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, February 12th. FB Financial’s payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FBK shares. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $40.00 to $40.50 in a research report on Tuesday. Stephens cut their price target on FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised their target price on FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $41.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.43.

FB Financial Company 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.