Peregrine Capital Management LLC boosted its holdings in shares of FB Financial Corp (NYSE:FBK) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,937 shares of the financial services provider’s stock after purchasing an additional 2,411 shares during the period. Peregrine Capital Management LLC’s holdings in FB Financial were worth $4,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in FBK. Advisor Group Holdings Inc. bought a new position in FB Financial during the first quarter worth about $25,000. FDx Advisors Inc. bought a new position in FB Financial during the first quarter worth about $47,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in FB Financial by 110.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,390 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,257 shares during the period. BNP Paribas Arbitrage SA lifted its stake in FB Financial by 165.5% during the first quarter. BNP Paribas Arbitrage SA now owns 5,305 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 3,307 shares during the period. Finally, Denali Advisors LLC bought a new position in FB Financial during the first quarter worth about $124,000. Hedge funds and other institutional investors own 54.44% of the company’s stock.
In related news, major shareholder James W. Ayers purchased 15,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average price of $25.15 per share, with a total value of $383,537.50. Following the completion of the acquisition, the insider now directly owns 13,587,910 shares in the company, valued at approximately $341,735,936.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman James W. Ayers purchased 14,500 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average cost of $21.42 per share, with a total value of $310,590.00. Following the acquisition, the chairman now owns 13,563,990 shares of the company’s stock, valued at $290,540,665.80. The disclosure for this purchase can be found here. In the last three months, insiders purchased 51,547 shares of company stock valued at $1,226,360. 45.20% of the stock is currently owned by company insiders.
A number of research analysts have commented on the stock. UBS Group cut their price target on shares of FB Financial from $41.00 to $18.50 and set a “neutral” rating for the company in a research note on Monday, April 6th. SunTrust Banks raised their price objective on shares of FB Financial from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Zacks Investment Research raised shares of FB Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, ValuEngine raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $33.60.
NYSE FBK opened at $25.41 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 0.04. The firm has a market cap of $815.20 million, a price-to-earnings ratio of 11.76 and a beta of 1.43. The company has a 50 day moving average of $23.99 and a 200-day moving average of $26.30. FB Financial Corp has a 1-year low of $14.38 and a 1-year high of $40.33.
FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.26. The business had revenue of $136.83 million during the quarter, compared to analyst estimates of $97.87 million. FB Financial had a net margin of 14.48% and a return on equity of 9.94%. On average, analysts forecast that FB Financial Corp will post 1.96 earnings per share for the current year.
About FB Financial
FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services businesses, professionals, and individuals. The company operates in two segments, Banking and Mortgage. It provides demand, negotiable order of withdrawal, money market, certificates of deposit, and municipal and savings accounts, as well as time deposits.
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