Thrivent Financial for Lutherans Sells 420 Shares of FB Financial Co. (NYSE:FBK)

Thrivent Financial for Lutherans lessened its stake in FB Financial Co. (NYSE:FBK) by 1.5% in the 4th quarter, HoldingsChannel reports. The fund owned 27,051 shares of the financial services provider’s stock after selling 420 shares during the quarter. Thrivent Financial for Lutherans’ holdings in FB Financial were worth $1,393,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FBK. 12th Street Asset Management Company LLC grew its stake in shares of FB Financial by 65.2% during the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock valued at $10,163,000 after purchasing an additional 77,885 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in FB Financial by 59.4% during the 4th quarter. Simplicity Wealth LLC now owns 13,177 shares of the financial services provider’s stock worth $679,000 after buying an additional 4,912 shares in the last quarter. Amundi boosted its position in FB Financial by 185.9% in the 4th quarter. Amundi now owns 17,611 shares of the financial services provider’s stock valued at $885,000 after buying an additional 11,452 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of FB Financial in the 4th quarter valued at $9,546,000. Finally, Atria Investments Inc raised its position in shares of FB Financial by 75.2% during the fourth quarter. Atria Investments Inc now owns 15,651 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 6,716 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Trading Down 1.9 %

NYSE:FBK opened at $47.04 on Monday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.05 and a beta of 1.16. FB Financial Co. has a 1-year low of $33.35 and a 1-year high of $58.88. The business’s 50-day moving average price is $50.08 and its two-hundred day moving average price is $50.84.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. Sell-side analysts predict that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s dividend payout ratio is currently 30.77%.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average cost of $50.26 per share, for a total transaction of $100,520.00. Following the transaction, the insider now owns 10,915,841 shares of the company’s stock, valued at $548,630,168.66. This trade represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have acquired 14,000 shares of company stock valued at $710,180. 1.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FBK shares. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised 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 note on Wednesday, December 4th. Finally, Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $52.60.

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.