FB Financial Co. (NYSE:FBK) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury reduced its stake in FB Financial Co. (NYSE:FBK - Free Report) by 38.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,529 shares of the financial services provider's stock after selling 10,543 shares during the period. State of Tennessee Department of Treasury's holdings in FB Financial were worth $851,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of FB Financial by 8.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider's stock valued at $3,134,000 after acquiring an additional 4,918 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of FB Financial by 39.7% during the fourth quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider's stock worth $1,022,000 after acquiring an additional 5,642 shares in the last quarter. GAMMA Investing LLC grew its position in FB Financial by 45.2% during the fourth quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after buying an additional 314 shares in the last quarter. Barclays PLC boosted its holdings in shares of FB Financial by 58.3% in the 3rd quarter. Barclays PLC now owns 94,062 shares of the financial services provider's stock worth $4,415,000 after purchasing an additional 34,633 shares in the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of FB Financial by 136.2% in the fourth quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock worth $855,000 after buying an additional 9,570 shares during the period. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Trading Up 1.9 %

FBK stock traded up $0.85 on Thursday, hitting $44.76. The company had a trading volume of 63,551 shares, compared to its average volume of 172,505. The stock's 50-day simple moving average is $44.25 and its 200 day simple moving average is $49.80. FB Financial Co. has a 12-month low of $34.50 and a 12-month high of $58.88. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 18.12 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. The company had revenue of $130.67 million for the quarter, compared to analysts' expectations of $132.28 million. During the same period last year, the firm earned $0.85 EPS. Research analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Tuesday, May 13th. FB Financial's dividend payout ratio (DPR) is 27.94%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was acquired at an average price of $51.83 per share, with a total value of $103,660.00. Following the completion of the acquisition, the insider now owns 10,927,841 shares in the company, valued at approximately $566,389,999.03. This represents a 0.02 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James W. Iv Cross bought 7,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average cost of $40.49 per share, with a total value of $291,528.00. Following the acquisition, the director now directly owns 61,278 shares of the company's stock, valued at approximately $2,481,146.22. This trade represents a 13.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 11,200 shares of company stock valued at $492,208. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FBK has been the subject of several research reports. Piper Sandler decreased their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. StockNews.com lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their target price on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Finally, Hovde Group upgraded FB Financial from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $53.80.

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.