Empowered Funds LLC Acquires 6,968 Shares of FB Financial Co. (NYSE:FBK)

Empowered Funds LLC boosted its holdings in FB Financial Co. (NYSE:FBK) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,718 shares of the financial services provider’s stock after purchasing an additional 6,968 shares during the period. Empowered Funds LLC’s holdings in FB Financial were worth $6,510,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FBK. Vanguard Group Inc. increased its stake in shares of FB Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after purchasing an additional 9,694 shares during the last quarter. Dimensional Fund Advisors LP increased its position in FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after buying an additional 106,553 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of FB Financial by 3.0% in the first quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock valued at $42,812,000 after buying an additional 33,310 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after buying an additional 15,739 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of FB Financial by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 204,983 shares of the financial services provider’s stock worth $8,001,000 after acquiring an additional 4,364 shares during the period. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Hovde Group upped their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Finally, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $47.80.

FB Financial Stock Down 0.7 %

Shares of FBK opened at $55.83 on Friday. The business’s 50-day moving average price is $48.80 and its 200-day moving average price is $43.75. The stock has a market cap of $2.61 billion, a PE ratio of 24.38 and a beta of 1.12. FB Financial Co. has a twelve month low of $32.09 and a twelve month high of $58.88.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The business had revenue of $169.13 million for the quarter, compared to analysts’ expectations of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the prior year, the company posted $0.71 EPS. Analysts expect that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the acquisition, the insider now owns 10,902,341 shares of the company’s stock, valued at $524,729,672.33. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James W. Iv Cross sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the completion of the transaction, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. This trade represents a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 13,000 shares of company stock worth $658,460 in the last ninety days. 1.70% of the stock is currently owned by insiders.

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.