Hsbc Holdings PLC Sells 327 Shares of FB Financial Co. (NYSE:FBK)

Hsbc Holdings PLC reduced its stake in shares of FB Financial Co. (NYSE:FBK) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,079 shares of the financial services provider’s stock after selling 327 shares during the period. Hsbc Holdings PLC’s holdings in FB Financial were worth $314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in FB Financial by 45.2% during 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 during the last quarter. Albert D Mason Inc. lifted its stake in shares of FB Financial by 1.5% in 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 purchasing an additional 346 shares during the period. Teacher Retirement System of Texas boosted its position in shares of FB Financial by 1.6% during the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider’s stock valued at $1,315,000 after purchasing an additional 412 shares in the last quarter. KBC Group NV grew its stake in FB Financial by 36.2% during the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 555 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in FB Financial by 11.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,418 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 569 shares in the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FB Financial news, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction on Wednesday, April 16th. The stock was purchased at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the purchase, the director now directly owns 61,278 shares of the company’s stock, valued at $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the transaction, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. The trade was a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 11,200 shares of company stock worth $492,208. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FBK shares. Keefe, Bruyette & Woods cut their price target on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a report on Thursday, April 17th. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their price target for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a report on Monday, April 28th. Piper Sandler reduced their target price on FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Stephens dropped their price target 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. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, FB Financial currently has an average rating of “Hold” and an average target price of $53.80.

FB Financial Stock Performance

Shares of NYSE FBK opened at $45.24 on Friday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 18.32 and a beta of 0.93. FB Financial Co. has a fifty-two week low of $34.50 and a fifty-two week high of $58.88. The firm’s 50-day simple moving average is $44.09 and its 200 day simple moving average is $49.76.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The company had revenue of $130.67 million for the quarter, compared to analysts’ expectations of $132.28 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. On average, sell-side analysts predict that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.68%. FB Financial’s dividend payout ratio is currently 27.94%.

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.