Sagespring Wealth Partners LLC Invests $426,000 in FB Financial Co. (NYSE:FBK)

Sagespring Wealth Partners LLC bought a new position in shares of FB Financial Co. (NYSE:FBK) during the fourth quarter, HoldingsChannel.com reports. The firm bought 8,264 shares of the financial services provider’s stock, valued at approximately $426,000.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in FB Financial by 45.2% during the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 314 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 997 shares in the last quarter. KBC Group NV grew its holdings in shares of FB Financial by 36.2% in the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after buying an additional 555 shares during the period. LPL Financial LLC bought a new stake in shares of FB Financial in the 4th quarter valued at $206,000. Finally, Lbmc Investment Advisors LLC acquired a new stake in FB Financial during the 4th quarter worth $220,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Price Performance

Shares of NYSE:FBK opened at $40.34 on Wednesday. The company’s 50-day moving average price is $47.07 and its two-hundred day moving average price is $50.32. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The stock has a market capitalization of $1.88 billion, a PE ratio of 16.33 and a beta of 0.92.

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

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Tuesday, February 11th. This is an increase from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

FBK has been the subject of several recent analyst reports. Piper Sandler increased their price target on FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Finally, Stephens reduced their price target on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $55.40.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $52.56 per share, with a total value of $105,120.00. Following the completion of the transaction, the insider now owns 10,919,841 shares of the company’s stock, valued at $573,946,842.96. The trade was a 0.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders bought 8,000 shares of company stock valued at $409,940. 1.70% of the stock is owned by corporate insiders.

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.