Sagespring Wealth Partners LLC Takes Position in FB Financial Co. (NYSE:FBK)

Sagespring Wealth Partners LLC purchased a new stake in shares of FB Financial Co. (NYSE:FBK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,264 shares of the financial services provider’s stock, valued at approximately $426,000.

Several other large investors have also recently added to or reduced their stakes in FBK. FMR LLC increased its position in shares of FB Financial by 42.0% during the third quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 2,109 shares during the period. Stifel Financial Corp raised its stake in shares of FB Financial by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider’s stock valued at $3,786,000 after buying an additional 356 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of FB Financial by 120.6% during the 3rd quarter. Jane Street Group LLC now owns 71,487 shares of the financial services provider’s stock worth $3,355,000 after acquiring an additional 39,086 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of FB Financial during the 3rd quarter valued at about $346,000. Finally, Barclays PLC increased its stake in FB Financial by 58.3% in the third quarter. Barclays PLC now owns 94,062 shares of the financial services provider’s stock valued at $4,415,000 after acquiring an additional 34,633 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Down 2.0 %

FB Financial stock opened at $40.34 on Wednesday. The stock has a 50-day simple moving average of $47.07 and a 200 day simple moving average of $50.32. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.33 and a beta of 0.92. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The company had revenue of $130.67 million during the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, sell-side analysts anticipate that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler boosted their target price on shares of FB Financial from $58.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $55.40.

Insider Activity

In other news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average cost of $52.56 per share, with a total value of $105,120.00. Following the acquisition, the insider now owns 10,919,841 shares of the company’s stock, valued at $573,946,842.96. This trade represents a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 8,000 shares of company stock valued at $409,940 over the last 90 days. 1.70% of the stock is owned by company 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.