Avantax Advisory Services Inc. Reduces Position in FB Financial Co. (NYSE:FBK)

Avantax Advisory Services Inc. decreased its stake in shares of FB Financial Co. (NYSE:FBK) by 11.1% during the fourth quarter, HoldingsChannel reports. The firm owned 34,452 shares of the financial services provider’s stock after selling 4,308 shares during the quarter. Avantax Advisory Services Inc.’s holdings in FB Financial were worth $1,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in shares of FB Financial in the 3rd quarter valued at $47,000. GAMMA Investing LLC increased its holdings in shares of FB Financial by 45.2% in the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 314 shares during the period. KBC Group NV increased its holdings in shares of FB Financial by 36.2% in the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 555 shares during the period. Point72 DIFC Ltd purchased a new position in shares of FB Financial in the third quarter worth about $110,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in FB Financial in the third quarter valued at approximately $124,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Stock Performance

FBK opened at $46.86 on Tuesday. The company has a fifty day moving average of $50.67 and a two-hundred day moving average of $50.78. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 18.97 and a beta of 1.16. FB Financial Co. has a fifty-two week low of $33.35 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. On average, equities research analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s payout ratio is presently 30.77%.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers bought 2,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was acquired at an average price of $51.40 per share, with a total value of $102,800.00. Following the completion of the purchase, the insider now directly owns 10,913,841 shares of the company’s stock, valued at approximately $560,971,427.40. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders purchased 16,000 shares of company stock worth $813,900. Company insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FBK shares. Hovde Group lowered shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research report on Monday, November 18th. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a report on Tuesday, March 11th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $52.60.

About FB Financial

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.