Is FB Financial Corp (NYSE:FBK) A Good Stock To Buy?

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As industrywide interest jumped, specific money managers have been driving this bullishness. The other funds with new positions in the stock are Castine Capital Management, HBK Investments, and Citadel Investment Group.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as FB Financial Corp (NYSE:FBK) but similarly valued. We will take a look at Blucora Inc (NASDAQ:BCOR), Career Education Corp. (NASDAQ:CECO), Lands’ End, Inc. (NASDAQ:LE), and Kinsale Capital Group Inc (NASDAQ:KNSL). This group of stocks’ market values are closest to FBK’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BCOR 20 73093 -2
CECO 16 62286 7
LE 9 152042 -1
KNSL 6 10395 6

As you can see these stocks had an average of 13 hedge funds with bullish positions and the average amount invested in these stocks was $74 million. That figure was $29 million in FBK’s case. Blucora Inc (NASDAQ:BCOR) is the most popular stock in this table. On the other hand Kinsale Capital Group Inc (NASDAQ:KNSL) is the least popular one with only 6 bullish hedge fund positions. FB Financial Corp (NYSE:FBK) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BCOR might be a better candidate to consider taking a long position in.

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