ExodusPoint Capital Management LP Reduces Holdings in FB Financial Co. (NYSE:FBK)

ExodusPoint Capital Management LP reduced its stake in FB Financial Co. (NYSE:FBK) by 12.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,129 shares of the financial services provider’s stock after selling 4,585 shares during the quarter. ExodusPoint Capital Management LP owned about 0.07% of FB Financial worth $1,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in FB Financial by 7.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock valued at $905,000 after purchasing an additional 1,317 shares in the last quarter. FMR LLC increased its position in shares of FB Financial by 42.0% in the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 2,109 shares during the period. BNP Paribas Financial Markets raised its stake in FB Financial by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 2,090 shares during the last quarter. Verition Fund Management LLC acquired a new stake in FB Financial during the 3rd quarter worth about $599,000. Finally, Point72 Asset Management L.P. purchased a new stake in FB Financial during the 3rd quarter valued at about $47,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Price Performance

FBK opened at $39.83 on Wednesday. The stock has a market cap of $1.86 billion, a P/E ratio of 16.13 and a beta of 0.92. The firm has a fifty day moving average price of $48.46 and a 200 day moving average price of $50.56. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88.

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

FB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were issued a $0.19 dividend. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.91%. The ex-dividend date was Tuesday, February 11th. FB Financial’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FBK shares. Piper Sandler raised their price objective on FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Hovde Group raised shares of 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 report on Tuesday, April 1st. Finally, Stephens reduced their price objective on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.40.

Insider Activity

In related news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $52.56 per share, with a total value of $105,120.00. Following the purchase, the insider now owns 10,919,841 shares of the company’s stock, valued at $573,946,842.96. The trade was a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 10,000 shares of company stock worth $506,860 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

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.