Amalgamated Bank Sells 377 Shares of FB Financial Co. (NYSE:FBK)

Amalgamated Bank lessened its holdings in shares of FB Financial Co. (NYSE:FBK) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,411 shares of the financial services provider’s stock after selling 377 shares during the quarter. Amalgamated Bank’s holdings in FB Financial were worth $489,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FBK. Dimensional Fund Advisors LP boosted its position in shares of FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after acquiring an additional 106,553 shares during the last quarter. Millennium Management LLC boosted 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 last quarter. Salzhauer Michael bought a new stake in shares of FB Financial during the 2nd quarter valued at about $2,596,000. Rosenthal Henry Capital Advisors Inc. bought a new stake in shares of FB Financial during the 3rd quarter valued at about $1,935,000. Finally, Janus Henderson Group PLC boosted its position in shares of FB Financial by 3.0% during the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock valued at $42,812,000 after acquiring an additional 33,310 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Price Performance

NYSE:FBK opened at $55.83 on Friday. The business has a 50 day moving average of $48.80 and a 200 day moving average of $43.75. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 24.37 and a beta of 1.12. FB Financial Co. has a 1-year low of $32.09 and a 1-year high of $58.88.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, sell-side analysts anticipate that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. FB Financial’s dividend payout ratio (DPR) is currently 29.69%.

Insiders Place Their Bets

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of FB Financial stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the transaction, the director now directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. The trade was a 8.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James W. Ayers purchased 1,500 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was bought at an average cost of $49.58 per share, for a total transaction of $74,370.00. Following the completion of the purchase, the insider now directly owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This trade represents a 0.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 13,000 shares of company stock valued at $658,460 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price target on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. Finally, Hovde Group boosted their target price on FB Financial from $52.50 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial currently has an average rating of “Hold” and a consensus price target of $47.80.

About FB Financial

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.