New York State Teachers Retirement System Reduces Stock Position in FB Financial Co. (NYSE:FBK)

New York State Teachers Retirement System reduced its holdings in shares of FB Financial Co. (NYSE:FBK) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,328 shares of the financial services provider’s stock after selling 500 shares during the quarter. New York State Teachers Retirement System’s holdings in FB Financial were worth $611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in FB Financial by 975.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 11,243 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 10,198 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new stake in FB Financial in the 3rd quarter worth approximately $2,770,000. Illinois Municipal Retirement Fund purchased a new stake in FB Financial in the 3rd quarter worth approximately $602,000. Earnest Partners LLC lifted its stake in FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock worth $15,822,000 after purchasing an additional 34,601 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new stake in FB Financial in the 3rd quarter worth approximately $648,000. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $35.91 per share, with a total value of $107,730.00. Following the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, major shareholder James W. Ayers purchased 3,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $35.91 per share, with a total value of $107,730.00. Following the acquisition, the insider now directly owns 10,884,841 shares in the company, valued at $390,874,640.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder James W. Ayers purchased 2,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was purchased at an average cost of $36.35 per share, for a total transaction of $72,700.00. Following the acquisition, the insider now owns 10,886,841 shares in the company, valued at $395,736,670.35. The disclosure for this purchase can be found here. Insiders have bought a total of 7,000 shares of company stock valued at $256,830 in the last quarter. Insiders own 1.90% of the company’s stock.

FB Financial Stock Performance

FBK stock opened at $35.56 on Friday. FB Financial Co. has a 52 week low of $24.34 and a 52 week high of $41.00. The firm’s fifty day moving average is $35.96 and its 200 day moving average is $35.12. The firm has a market cap of $1.67 billion, a P/E ratio of 14.94 and a beta of 1.15.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, January 16th. The financial services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.71 by $0.06. The company had revenue of $116.43 million for the quarter, compared to analyst estimates of $121.58 million. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts forecast that FB Financial Co. will post 2.84 EPS for the current year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 13th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Monday, February 12th. This is a positive change from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is 28.57%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $41.00 in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday. Stephens decreased their price target on shares of FB Financial from $45.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $38.00 price target on shares of FB Financial in a report on Wednesday. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $40.00 to $40.50 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.43.

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.