Alpha DNA Investment Management LLC Makes New Investment in FB Financial Co. (NYSE:FBK)

Alpha DNA Investment Management LLC acquired a new position in shares of FB Financial Co. (NYSE:FBK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,644 shares of the financial services provider’s stock, valued at approximately $406,000.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 106,553 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after purchasing an additional 15,739 shares during the period. Salzhauer Michael bought a new position in shares of FB Financial in the second quarter worth $2,596,000. Raymond James & Associates increased its position in shares of FB Financial by 5.0% in the third quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock worth $6,080,000 after purchasing an additional 6,183 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. bought a new position in shares of FB Financial in the third quarter worth $1,935,000. Institutional investors own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on FBK. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. 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 research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods lifted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $48.60.

Insiders Place Their Bets

In other news, 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 transaction, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. This represents a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 1,500 shares of the stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the transaction, the insider now directly owns 10,892,341 shares of the company’s stock, valued at $540,042,266.78. This trade represents a 0.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 13,000 shares of company stock worth $658,460. 1.70% of the stock is owned by corporate insiders.

FB Financial Price Performance

FB Financial stock opened at $56.59 on Monday. The stock’s 50 day moving average is $49.78 and its 200 day moving average is $44.43. The firm has a market cap of $2.64 billion, a P/E ratio of 24.71 and a beta of 1.12. FB Financial Co. has a one year low of $32.09 and a one year high of $58.88.

FB Financial (NYSE:FBK) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same period in the previous year, the company posted $0.71 earnings per share. Equities analysts anticipate 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 was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. FB Financial’s payout ratio is currently 29.69%.

FB Financial 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.