The Manufacturers Life Insurance Company Acquires 1,317 Shares of FB Financial Co. (NYSE:FBK)

The Manufacturers Life Insurance Company lifted its holdings in FB Financial Co. (NYSE:FBK) by 7.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,284 shares of the financial services provider’s stock after buying an additional 1,317 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in FB Financial were worth $905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FBK. Alpha DNA Investment Management LLC acquired a new stake in FB Financial in the 3rd quarter valued at about $406,000. Raymond James Trust N.A. acquired a new stake in shares of FB Financial in the third quarter valued at approximately $201,000. Charles Schwab Investment Management Inc. raised its position in FB Financial by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after purchasing an additional 14,797 shares during the last quarter. Intech Investment Management LLC acquired a new position in FB Financial during the 3rd quarter worth $330,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in FB Financial during the 3rd quarter worth $1,557,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a report on Monday, November 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.20.

FB Financial Trading Down 1.0 %

Shares of FBK opened at $55.56 on Friday. The stock has a market cap of $2.59 billion, a P/E ratio of 24.23 and a beta of 1.15. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The stock’s 50-day moving average price is $52.26 and its two-hundred day moving average price is $46.01.

FB Financial (NYSE:FBK) last released 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. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities analysts forecast that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is 29.69%.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers purchased 1,000 shares of FB Financial stock in a transaction dated Monday, November 11th. The stock was bought at an average price of $57.15 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the insider now directly owns 10,909,841 shares of the company’s stock, valued at $623,497,413.15. This represents a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $58.22, for a total transaction of $291,100.00. Following the sale, the director now owns 54,078 shares in the company, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 13,000 shares of company stock worth $658,460 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

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.