Pinnacle Financial Partners Inc Has $266,000 Stock Holdings in FB Financial Co. (NYSE:FBK)

Pinnacle Financial Partners Inc grew its holdings in FB Financial Co. (NYSE:FBK) by 412.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,253 shares of the financial services provider’s stock after buying an additional 4,227 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in FB Financial were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in FB Financial by 4.7% in the third quarter. Wasatch Advisors LP now owns 1,225,838 shares of the financial services provider’s stock worth $57,529,000 after purchasing an additional 55,071 shares during the period. Geode Capital Management LLC increased its position in FB Financial by 0.9% in the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after purchasing an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. increased its position in FB Financial by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after purchasing an additional 14,797 shares during the period. Allspring Global Investments Holdings LLC increased its position in FB Financial by 1.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock worth $12,067,000 after purchasing an additional 4,435 shares during the period. Finally, Principal Financial Group Inc. increased its position in FB Financial by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider’s stock worth $9,591,000 after purchasing an additional 6,612 shares during the period. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average price of $51.40 per share, for a total transaction of $102,800.00. Following the acquisition, the insider now directly owns 10,913,841 shares of the company’s stock, valued at approximately $560,971,427.40. This trade represents a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 14,000 shares of company stock worth $716,880 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

FB Financial Trading Down 2.4 %

Shares of FBK opened at $49.75 on Monday. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The stock has a market cap of $2.32 billion, a P/E ratio of 20.14 and a beta of 1.15. The stock’s 50-day moving average price is $52.08 and its two-hundred day moving average price is $50.43.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. As a group, equities analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Tuesday, February 11th. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a report on Monday, November 18th. Finally, Keefe, Bruyette & Woods raised their target price on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, FB Financial presently has an average rating of “Hold” and a consensus target price of $50.20.

About FB Financial

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.