FB Financial Co. (NYSE:FBK) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in FB Financial Co. (NYSE:FBK) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,900 shares of the financial services provider’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FB Financial were worth $793,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. nVerses Capital LLC acquired a new stake in FB Financial in the 3rd quarter valued at $84,000. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the first quarter worth about $165,000. Renaissance Technologies LLC acquired a new position in shares of FB Financial during the 2nd quarter worth about $217,000. ProShare Advisors LLC lifted its stake in FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after buying an additional 494 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in FB Financial by 17.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after buying an additional 1,067 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Price Performance

NYSE:FBK opened at $48.03 on Tuesday. The company’s 50-day moving average is $47.34 and its two-hundred day moving average is $42.71. FB Financial Co. has a 1-year low of $30.01 and a 1-year high of $51.63. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 20.97 and a beta of 1.12.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The company had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same period in the prior year, the business posted $0.71 earnings per share. As a group, equities analysts anticipate that FB Financial Co. will post 3.34 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 annualized dividend and a yield of 1.42%. FB Financial’s dividend payout ratio (DPR) is currently 29.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FBK. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and increased their target price for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. Hovde Group lifted their target price on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. Finally, StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, FB Financial currently has an average rating of “Hold” and an average price target of $47.80.

Insider Buying and Selling at FB Financial

In related news, major shareholder James W. Ayers purchased 500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the transaction, the insider now directly owns 10,906,841 shares in the company, valued at approximately $556,248,891. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average cost of $50.29 per share, for a total transaction of $100,580.00. Following the acquisition, the insider now directly owns 10,904,341 shares of the company’s stock, valued at $548,379,308.89. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers purchased 500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $51.00 per share, for a total transaction of $25,500.00. Following the completion of the purchase, the insider now directly owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 10,000 shares of company stock valued at $489,910 over the last 90 days. 1.70% of the stock is owned by 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.