The Manufacturers Life Insurance Company Has $701,000 Stock Position in FB Financial Co. (NYSE:FBK)

The Manufacturers Life Insurance Company increased its holdings in FB Financial Co. (NYSE:FBK) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,967 shares of the financial services provider’s stock after acquiring an additional 743 shares during the period. The Manufacturers Life Insurance Company’s holdings in FB Financial were worth $701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its position in shares of FB Financial by 259.9% during the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after acquiring an additional 85,620 shares during the period. AQR Capital Management LLC boosted its holdings in FB Financial by 30.5% in the 2nd quarter. AQR Capital Management LLC now owns 40,704 shares of the financial services provider’s stock valued at $1,589,000 after purchasing an additional 9,512 shares during the period. Marshall Wace LLP bought a new position in FB Financial in the 2nd quarter valued at $630,000. Public Sector Pension Investment Board raised its position in shares of FB Financial by 7.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,563 shares of the financial services provider’s stock valued at $3,027,000 after buying an additional 5,551 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of FB Financial by 28.4% during the 2nd quarter. Hsbc Holdings PLC now owns 14,892 shares of the financial services provider’s stock valued at $576,000 after buying an additional 3,294 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

FBK has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on shares of FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 17th. Stephens reiterated an “overweight” rating and set a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. JPMorgan Chase & Co. reduced their price target on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research report on Thursday, June 27th. Finally, Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and a consensus price target of $42.33.

FB Financial Trading Up 0.8 %

FBK opened at $47.92 on Tuesday. FB Financial Co. has a 1-year low of $27.61 and a 1-year high of $49.97. The company has a market capitalization of $2.25 billion, a PE ratio of 20.13 and a beta of 1.13. The firm’s 50 day simple moving average is $45.92 and its two-hundred day simple moving average is $41.32.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $128.22 million during the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. Equities analysts forecast that FB Financial Co. will post 3.25 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 annualized dividend and a yield of 1.42%. FB Financial’s payout ratio is 28.57%.

FB Financial 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.