Peregrine Capital Management LLC Sells 4,438 Shares of FB Financial Co. (NYSE:FBK)

Peregrine Capital Management LLC trimmed its position in shares of FB Financial Co. (NYSE:FBK) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,347 shares of the financial services provider’s stock after selling 4,438 shares during the quarter. Peregrine Capital Management LLC owned about 0.26% of FB Financial worth $6,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in FB Financial by 3.7% during the fourth quarter. Principal Financial Group Inc. now owns 186,201 shares of the financial services provider’s stock valued at $9,591,000 after acquiring an additional 6,612 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of FB Financial by 1.5% during the 4th quarter. Rhumbline Advisers now owns 110,352 shares of the financial services provider’s stock valued at $5,684,000 after purchasing an additional 1,584 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 1.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock worth $12,067,000 after purchasing an additional 4,435 shares in the last quarter. Empowered Funds LLC grew its stake in FB Financial by 5.1% during the 4th quarter. Empowered Funds LLC now owns 145,755 shares of the financial services provider’s stock worth $7,508,000 after buying an additional 7,037 shares during the last quarter. Finally, KBC Group NV increased its position in FB Financial by 36.2% during 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 in the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Stock Up 0.7 %

Shares of NYSE:FBK opened at $52.35 on Wednesday. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 21.19 and a beta of 1.15. The business has a 50-day moving average price of $52.43 and a 200-day moving average price of $50.25.

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

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, February 11th. This is an increase from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.45%. FB Financial’s payout ratio is currently 27.53%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FBK. Keefe, Bruyette & Woods raised their price target on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, FB Financial has a consensus rating of “Hold” and an average target price of $50.20.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $52.56 per share, with a total value of $105,120.00. Following the acquisition, the insider now directly owns 10,919,841 shares in the company, valued at $573,946,842.96. This represents a 0.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired 14,000 shares of company stock worth $716,880 over the last three months. Company insiders own 1.70% of the company’s stock.

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.