SG Americas Securities LLC Trims Position in FB Financial Corporation $FBK

SG Americas Securities LLC trimmed its position in shares of FB Financial Corporation (NYSE:FBK) by 88.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,614 shares of the financial services provider’s stock after selling 41,098 shares during the period. SG Americas Securities LLC’s holdings in FB Financial were worth $313,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FBK. Investors Research Corp bought a new stake in FB Financial during the third quarter valued at about $26,000. Tripletail Wealth Management LLC purchased a new stake in shares of FB Financial during the third quarter worth about $31,000. EverSource Wealth Advisors LLC raised its stake in FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 795 shares during the period. Toth Financial Advisory Corp purchased a new position in FB Financial in the 3rd quarter worth approximately $106,000. Finally, GAMMA Investing LLC lifted its holdings in FB Financial by 24.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 387 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a research note on Thursday. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $63.00 to $65.00 in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a report on Thursday, October 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, FB Financial presently has an average rating of “Moderate Buy” and a consensus price target of $61.20.

Insiders Place Their Bets

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $60.06, for a total value of $510,510.00. Following the completion of the sale, the insider directly owned 9,484 shares in the company, valued at $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

FB Financial Trading Up 2.0%

Shares of NYSE FBK opened at $58.02 on Tuesday. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $62.37. The firm’s 50-day moving average price is $57.21 and its 200-day moving average price is $54.36. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 24.18 and a beta of 0.98.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The company had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. During the same quarter last year, the business posted $0.85 earnings per share. On average, equities analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, February 10th. This is a boost from FB Financial’s previous quarterly dividend of $0.19. FB Financial’s payout ratio is currently 31.67%.

About FB Financial

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.