FB Financial Co. (NYSE:FBK) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its position in shares of FB Financial Co. (NYSE:FBK) by 4.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,791 shares of the financial services provider’s stock after selling 893 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FB Financial were worth $968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of FB Financial in the 3rd quarter valued at approximately $47,000. GAMMA Investing LLC lifted its holdings in shares of FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider’s stock valued at $52,000 after buying an additional 314 shares during the period. KBC Group NV lifted its holdings in shares of FB Financial by 36.2% in the 4th quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock valued at $108,000 after buying an additional 555 shares during the period. Point72 DIFC Ltd acquired a new position in FB Financial during the third quarter worth $110,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in FB Financial during the third quarter worth $124,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

Shares of FBK stock opened at $50.46 on Monday. The business has a 50 day simple moving average of $51.74 and a 200 day simple moving average of $50.71. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 20.43 and a beta of 1.15. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. On average, equities analysts anticipate that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.51%. This is an increase from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 11th. FB Financial’s dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

FBK has been the subject of a number of analyst reports. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a report on Monday, November 18th. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.20.

Insiders Place Their Bets

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $52.56 per share, for a total transaction of $105,120.00. Following the completion of the purchase, the insider now directly owns 10,919,841 shares in the company, valued at approximately $573,946,842.96. This trade represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 14,000 shares of company stock valued at $716,880 over the last three months. 1.70% of the stock is currently owned by insiders.

FB Financial Company Profile

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.