Mutual of America Capital Management LLC Sells 531 Shares of FB Financial Co. (NYSE:FBK)

Mutual of America Capital Management LLC lessened its holdings in shares of FB Financial Co. (NYSE:FBK) by 9.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,262 shares of the financial services provider’s stock after selling 531 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FB Financial were worth $247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of FB Financial by 5.3% in the third quarter. Empowered Funds LLC now owns 138,718 shares of the financial services provider’s stock worth $6,510,000 after buying an additional 6,968 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of FB Financial in the third quarter worth about $202,000. Rosenthal Henry Capital Advisors Inc. purchased a new stake in shares of FB Financial in the third quarter worth about $1,935,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of FB Financial by 7.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock worth $10,786,000 after buying an additional 15,739 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of FB Financial by 5.0% in the third quarter. Raymond James & Associates now owns 129,545 shares of the financial services provider’s stock worth $6,080,000 after buying an additional 6,183 shares in the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Down 0.9 %

NYSE:FBK opened at $56.31 on Friday. The stock has a market cap of $2.63 billion, a P/E ratio of 24.59 and a beta of 1.12. The firm’s fifty day simple moving average is $50.48 and its 200 day simple moving average is $44.84. FB Financial Co. has a twelve month low of $32.09 and a twelve month high of $58.88.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $169.13 million during the quarter, compared to analyst estimates 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 firm earned $0.71 EPS. On average, analysts expect that FB Financial Co. will post 3.38 EPS for the current fiscal 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 paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. FB Financial’s dividend payout ratio (DPR) is currently 29.69%.

Insiders Place Their Bets

In related news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the purchase, the insider now directly owns 10,902,341 shares of the company’s stock, valued at $524,729,672.33. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the transaction, the director now directly owns 54,078 shares in the company, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have bought 13,000 shares of company stock valued at $658,460. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.60.

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.