Mutual of America Capital Management LLC Takes Position in FB Financial Co. (NYSE:FBK)

Mutual of America Capital Management LLC purchased a new stake in shares of FB Financial Co. (NYSE:FBK) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,149 shares of the financial services provider’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently made changes to their positions in FBK. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of FB Financial during the 3rd quarter valued at about $71,000. PNC Financial Services Group Inc. boosted its holdings in shares of FB Financial by 17.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 449 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of FB Financial by 30.8% during the 3rd quarter. Quantbot Technologies LP now owns 7,250 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 1,706 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of FB Financial in the third quarter worth approximately $206,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of FB Financial in the third quarter worth approximately $208,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

FBK has been the topic of a number of research reports. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $41.00 in a report on Tuesday, April 16th. Stephens dropped their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $38.00 price objective on shares of FB Financial in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, FB Financial currently has a consensus rating of “Hold” and a consensus target price of $39.43.

FB Financial Price Performance

Shares of NYSE:FBK opened at $38.66 on Wednesday. FB Financial Co. has a 1-year low of $24.34 and a 1-year high of $41.00. The company has a market capitalization of $1.81 billion, a P/E ratio of 16.24 and a beta of 1.15. The firm’s 50 day simple moving average is $36.04 and its two-hundred day simple moving average is $35.40.

FB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 13th were given a dividend of $0.17 per share. The ex-dividend date was Monday, February 12th. This represents a $0.68 annualized dividend and a dividend yield of 1.76%. This is a boost from FB Financial’s previous quarterly dividend of $0.15. FB Financial’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity

In related news, major shareholder James W. Ayers acquired 3,000 shares of FB Financial stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the completion of the transaction, the insider now directly owns 10,884,841 shares in the company, valued at approximately $390,874,640.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the completion of the transaction, the insider now directly owns 10,886,841 shares in the company, valued at approximately $395,736,670.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James W. Ayers purchased 3,000 shares of FB Financial stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The disclosure for this purchase can be found here. Company insiders own 1.70% of the company’s stock.

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.