Raymond James & Associates Sells 12,500 Shares of FB Financial Co. (NYSE:FBK)

Raymond James & Associates lessened its holdings in shares of FB Financial Co. (NYSE:FBK – Get Rating) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,759 shares of the financial services provider’s stock after selling 12,500 shares during the quarter. Raymond James & Associates owned approximately 0.22% of FB Financial worth $3,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FBK. JPMorgan Chase & Co. increased its position in FB Financial by 9.6% during the first quarter. JPMorgan Chase & Co. now owns 94,767 shares of the financial services provider’s stock worth $4,210,000 after buying an additional 8,263 shares during the last quarter. American Century Companies Inc. grew its position in shares of FB Financial by 20.4% in the first quarter. American Century Companies Inc. now owns 42,955 shares of the financial services provider’s stock valued at $1,908,000 after purchasing an additional 7,283 shares during the last quarter. Citigroup Inc. grew its position in shares of FB Financial by 16.3% in the first quarter. Citigroup Inc. now owns 31,613 shares of the financial services provider’s stock valued at $1,404,000 after purchasing an additional 4,442 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of FB Financial by 57.4% in the first quarter. MetLife Investment Management LLC now owns 17,187 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 6,267 shares during the last quarter. Finally, Rhumbline Advisers grew its position in shares of FB Financial by 2.9% in the first quarter. Rhumbline Advisers now owns 92,950 shares of the financial services provider’s stock valued at $4,129,000 after purchasing an additional 2,589 shares during the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.

FB Financial Price Performance

NYSE FBK opened at $27.90 on Friday. The business has a fifty day moving average price of $28.88 and a two-hundred day moving average price of $34.95. FB Financial Co. has a fifty-two week low of $24.34 and a fifty-two week high of $45.25. The stock has a market capitalization of $1.31 billion, a PE ratio of 10.41 and a beta of 1.02.

FB Financial (NYSE:FBK – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. FB Financial had a return on equity of 10.42% and a net margin of 19.56%. The company had revenue of $183.03 million during the quarter, compared to analysts’ expectations of $131.72 million. During the same period in the prior year, the company earned $0.74 EPS. As a group, sell-side analysts expect that FB Financial Co. will post 2.67 earnings per share for the current year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Tuesday, May 9th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Monday, May 8th. FB Financial’s payout ratio is 22.39%.

Insider Activity

In other news, Director Raja J. Jubran purchased 6,150 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was bought at an average cost of $32.39 per share, for a total transaction of $199,198.50. Following the purchase, the director now owns 29,039 shares of the company’s stock, valued at $940,573.21. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Orrin H. Ingram II acquired 7,965 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average cost of $25.19 per share, for a total transaction of $200,638.35. Following the completion of the acquisition, the director now directly owns 85,102 shares of the company’s stock, valued at approximately $2,143,719.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raja J. Jubran acquired 6,150 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average price of $32.39 per share, with a total value of $199,198.50. Following the completion of the acquisition, the director now directly owns 29,039 shares of the company’s stock, valued at $940,573.21. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 48,185 shares of company stock worth $1,400,008. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FBK. StockNews.com began coverage on FB Financial in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Stephens decreased their target price on FB Financial from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. JPMorgan Chase & Co. decreased their target price on FB Financial from $30.00 to $29.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 19th. DA Davidson reduced their price target on FB Financial from $35.00 to $34.50 in a research report on Monday, April 24th. Finally, Keefe, Bruyette & Woods reduced their price target on FB Financial from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.31.

FB Financial Profile

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FB Financial Corp. is a bank holding company, which provides commercial and consumer banking services to clients in select markets primarily in Tennessee, North Alabama, and North Georgia through its subsidiary. It operates through the Banking and Mortgage segments. The Banking segments deals with interest on loans and investments, loan-related fees, originations in banking footprint, investment services, and deposit-related fees.