Rosenthal Henry Capital Advisors Acquires Shares in FB Financial Co.

In the third quarter, Rosenthal Henry Capital Advisors Inc. has initiated a new investment in FB Financial Co. (NYSE:FBK - Free Report), according to its latest 13F filing with the Securities & Exchange Commission. The firm purchased 41,237 shares of the financial services provider's stock, which is worth approximately $1,935,000. This investment accounts for 1.9% of Rosenthal Henry Capital Advisors Inc.'s total holdings, making FB Financial its 26th largest investment. As per the latest filing, Rosenthal Henry Capital Advisors Inc. holds about 0.09% of FB Financial.

Several other institutional investors have recently adjusted their stakes in FB Financial. Dimensional Fund Advisors LP increased its holdings in the company by 5.8% during the second quarter. After acquiring an additional 106,553 shares, it now holds a total of 1,937,631 shares, valued at around $75,623,000. Additionally, Allspring Global Investments Holdings LLC raised its position in FB Financial by 7.4% in the third quarter, owning 229,829 shares worth $10,786,000 after adding 15,739 shares in the last quarter. Other notable transactions include Salzhauer Michael's new position worth about $2,596,000 in the second quarter, Quest Partners LLC’s purchase of shares in the same quarter for about $450,000, and SG Americas Securities LLC buying shares valued around $667,000 in the third quarter. Currently, 65.40% of FB Financial's stock is owned by institutional investors.

Insider Transactions at FB Financial

In related news, James W. Ayers, a major shareholder, made several purchases of FB Financial shares. On October 18th, he bought 1,500 shares at an average cost of $49.58 each, totaling $74,370. This acquisition increased his ownership to 10,892,341 shares, valued at approximately $540,042,266.78, marking a minor increase in his stake. Furthermore, he purchased another 2,000 shares on October 25th at an average price of $48.13 each for a total of $96,260, bringing his ownership to 10,902,341 shares valued at about $524,729,672.33. Over the last three months, insiders have acquired a total of 10,000 shares worth $489,910, with insiders holding 1.70% of the company’s stock.

Research and Analyst Ratings

FB Financial has been the subject of various research reports lately. On October 21st, Hovde Group increased their target price for FB Financial from $52.50 to $56.00 and assigned the stock an "outperform" rating. Piper Sandler, however, downgraded FB Financial from an "overweight" rating to a "neutral" rating while raising their target price from $41.00 to $46.00 in a report dated July 17th. Keefe, Bruyette & Woods also lifted their target price from $48.00 to $50.00 and maintained a "market perform" rating on October 16th. Stephens reiterated an "overweight" rating with a price target of $45.00 in their report on July 16th. StockNews.com adjusted their rating from "hold" to "sell" after recent assessments. At present, two analysts have issued a sell rating, while two maintain a hold rating and two recommend buying the stock. Currently, the consensus rating from analysts is "Hold" with an average target price of $47.80.

FB Financial's Market Performance

On a trading note, Facebook Financial's shares experienced a slight dip, down $0.29 on Friday to reach $48.91, with a trading volume of 107,481 shares compared to an average volume of 145,439. The company has a market capitalization of $2.30 billion, with a price-to-earnings (P/E) ratio of 21.37 and a beta of 1.13. FB Financial's 50-day moving average stands at $47.33, while the 200-day moving average is $42.53. The stock has recorded a 52-week low of $29.55 and a high of $51.63.

FB Financial released its quarterly earnings report on October 15th, showing $0.86 in earnings per share, surpassing the consensus estimate of $0.82 by $0.04. The company achieved a return on equity of 10.38% and a net margin of 14.40%, with quarterly revenue totaling $169.13 million compared to the consensus estimate of $127.44 million. A year earlier, the same quarter posted $0.71 EPS. Analysts forecast FB Financial Co. to report an EPS of 3.34 for the ongoing year.

Quarterly Dividend Announcement

FB Financial has also announced a quarterly dividend to be paid on November 19th. Shareholders recorded as of November 5th will receive a dividend of $0.17 per share. The ex-dividend date is November 5th, which implies an annualized dividend of $0.68, representing a yield of 1.39%. The company has a dividend payout ratio of 29.69%.

About FB Financial Corporation

FB Financial Corporation functions as a bank holding entity for FirstBank that provides a range of banking services for both commercial and individual clients. Their offerings include checking accounts, savings accounts, time deposits, lending products, and residential mortgage loans.

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