FB Financial Co. (NYSE:FBK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its holdings in FB Financial Co. (NYSE:FBK) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,963 shares of the financial services provider’s stock after selling 728 shares during the quarter. State of Alaska Department of Revenue’s holdings in FB Financial were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of FB Financial in the third quarter valued at about $84,000. SG Americas Securities LLC acquired a new stake in shares of FB Financial in the first quarter valued at about $165,000. Renaissance Technologies LLC acquired a new stake in shares of FB Financial in the second quarter valued at about $217,000. ProShare Advisors LLC raised its position in shares of FB Financial by 7.4% in the first 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 during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in FB Financial by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 1,067 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Insider Activity

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, October 21st. The stock was acquired at an average price of $48.17 per share, with a total value of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares in the company, valued at $524,780,405.97. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the stock in a transaction dated Monday, October 21st. The stock was acquired at an average price of $48.17 per share, with a total value of $96,340.00. Following the completion of the purchase, the insider now owns 10,894,341 shares in the company, valued at $524,780,405.97. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James W. Ayers acquired 1,500 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the purchase, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 10,000 shares of company stock valued at $489,910. 1.70% of the stock is currently owned by company insiders.

FB Financial Price Performance

Shares of FBK opened at $48.80 on Wednesday. FB Financial Co. has a 1-year low of $30.01 and a 1-year high of $51.63. The stock has a market cap of $2.29 billion, a PE ratio of 21.31 and a beta of 1.12. The firm has a 50-day simple moving average of $47.38 and a two-hundred day simple moving average of $42.79.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million during the quarter, compared to analysts’ expectations of $127.44 million. During the same period last year, the business earned $0.71 earnings per share. As a group, sell-side analysts expect that FB Financial Co. will post 3.34 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 16th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Hovde Group raised their price objective on shares of FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Stephens restated an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $47.80.

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.