Rosenthal Henry Capital Advisors Acquires Shares in FB Financial Co.

In the third quarter, Rosenthal Henry Capital Advisors Inc. made a significant investment by purchasing a new position in FB Financial Co. (NYSE:FBK), as revealed in their recent 13F filing with the Securities and Exchange Commission (SEC). The advisory firm acquired 41,237 shares of the financial services provider, with a total valuation near $1,935,000. This investment represents approximately 1.9% of Rosenthal Henry Capital Advisors Inc.'s total portfolio, marking FB Financial as the 26th largest position in their holdings. According to their latest SEC filing, Rosenthal Henry Capital Advisors Inc. holds about 0.09% of FB Financial's outstanding shares.

Additionally, other institutional investors have also adjusted their stakes in FB Financial. Dimensional Fund Advisors LP increased its holdings in FB Financial by 5.8% during the second quarter, now owning 1,937,631 shares valued at around $75,623,000 after purchasing an extra 106,553 shares. Furthermore, Allspring Global Investments Holdings LLC raised its stake by 7.4% in the third quarter, acquiring an additional 15,739 shares, bringing their total to 229,829 shares worth approximately $10,786,000. Other new investments included Salzhauer Michael's purchase in the second quarter valued at $2,596,000, and Quest Partners LLC's acquisition worth about $450,000. SG Americas Securities LLC also entered a new position in FB Financial in the third quarter, valued at around $667,000. Overall, hedge funds and institutional investors hold 65.40% of the company's shares.

Recent Insider Transactions at FB Financial

In recent developments, major shareholder James W. Ayers made several purchases of FB Financial stock. On October 18th, he bought 1,500 shares at an average price of $49.58 per share, amounting to a total of $74,370. After this transaction, Ayers' total ownership rose to 10,892,341 shares, valued at approximately $540,042,266.78. The following week, on October 25th, he bought an additional 2,000 shares at an average cost of $48.13 per share, totaling $96,260. This latest transaction also resulted in minimal change to his overall ownership percentage. Over the past three months, insiders have bought 10,000 shares valued at around $489,910. Currently, insiders hold about 1.70% of the company’s total stock.

Analyst Ratings and Price Targets

Several analysts have recently assessed FB Financial and provided their ratings. Hovde Group increased their target price for the stock from $52.50 to $56.00 and rated it as "outperform" on October 21st. Meanwhile, Piper Sandler downgraded FB Financial from an "overweight" to a "neutral" rating while adjusting their target price from $41.00 to $46.00 as of July 17th. Keefe, Bruyette & Woods raised their target from $48.00 to $50.00, assigning a "market perform" rating. Additionally, Stephens maintained an "overweight" rating with a price target set at $45.00 as of mid-July. However, StockNews.com lowered FB Financial’s rating from "hold" to "sell" in a more recent report. The consensus among analysts indicates a "Hold" rating with an average target price of $47.80.

Performance of FB Financial Stock

On Friday, FB Financial's shares decreased by $0.29, trading at $48.91. The stock exhibited a trading volume of 107,481, in contrast to the average of 145,439. FB Financial has a market capitalization of $2.30 billion, a price-to-earnings (P/E) ratio of 21.37, and a beta of 1.13. The company’s 50-day moving average is $47.33, while the 200-day moving average stands at $42.53. FB Financial has experienced a 52-week low of $29.55 and a high of $51.63.

FB Financial Co. released its latest quarterly earnings on October 15th, reporting earnings per share (EPS) of $0.86, surpassing expectations by $0.04 against a consensus estimate of $0.82. The firm recorded a return on equity of 10.38% with a net margin of 14.40%. Total revenue for the quarter was $169.13 million, compared to the expected $127.44 million. In the previous year’s comparable quarter, the company reported an EPS of $0.71, and forecasts suggest that FB Financial Co. will achieve an EPS of $3.34 for the current year.

FB Financial Announces Dividend Payment

Furthermore, FB Financial has declared a quarterly dividend to be disbursed on November 19th. Shareholders who are registered by November 5th will receive a dividend of $0.17 per share. The ex-dividend date is also set for November 5th. This translates to an annualized dividend of $0.68, providing a yield of 1.39%. The company’s dividend payout ratio currently stands at 29.69%.

About FB Financial Corporation

FB Financial Corporation functions as a bank holding company for FirstBank, offering a wide array of commercial and consumer banking services to various clientele including businesses and individuals. The services provided encompass checking and savings accounts, lending products, and mortgage loans, among others.

investment, shares, finance