Foundry Partners LLC Buys Shares of 5,445 FB Financial Co. (NYSE:FBK)

Foundry Partners LLC bought a new stake in FB Financial Co. (NYSE:FBK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,445 shares of the financial services provider’s stock, valued at approximately $217,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC lifted its holdings in shares of FB Financial by 1.6% during the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 323 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of FB Financial by 17.6% during the third quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 449 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FB Financial by 5.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,236 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 855 shares during the period. Stifel Financial Corp lifted its holdings in shares of FB Financial by 1.5% during the third quarter. Stifel Financial Corp now owns 65,793 shares of the financial services provider’s stock worth $1,866,000 after purchasing an additional 950 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of FB Financial by 1.5% during the third quarter. Swiss National Bank now owns 82,283 shares of the financial services provider’s stock worth $2,334,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the acquisition, the insider now directly owns 10,886,841 shares of the company’s stock, valued at $395,736,670.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the acquisition, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were purchased at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the acquisition, the insider now owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The disclosure for this purchase can be found here. Corporate insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $38.00 to $41.00 in a report on Tuesday, April 16th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 17th. Stephens lowered their target price on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $40.50 in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.43.

FB Financial Trading Up 2.7 %

FBK opened at $38.66 on Wednesday. FB Financial Co. has a 1-year low of $24.34 and a 1-year high of $41.00. The company has a market cap of $1.81 billion, a P/E ratio of 16.24 and a beta of 1.15. The company has a fifty day moving average price of $36.04 and a two-hundred day moving average price of $35.40.

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were issued a dividend of $0.17 per share. This is a boost from FB Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, February 12th. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

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.