Louisiana State Employees Retirement System Invests $642,000 in FB Financial Co. (NYSE:FBK)

Louisiana State Employees Retirement System purchased a new position in shares of FB Financial Co. (NYSE:FBKGet Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,800 shares of the financial services provider’s stock, valued at approximately $642,000.

Several other institutional investors also recently modified their holdings of FBK. Everence Capital Management Inc. bought a new stake in shares of FB Financial in the second quarter worth $254,000. First Horizon Advisors Inc. bought a new stake in shares of FB Financial in the second quarter worth $111,000. Rhumbline Advisers grew its stake in shares of FB Financial by 10.8% in the second quarter. Rhumbline Advisers now owns 103,011 shares of the financial services provider’s stock worth $4,040,000 after purchasing an additional 10,061 shares during the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in shares of FB Financial by 3.8% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 27,930 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Albert D Mason Inc. grew its stake in shares of FB Financial by 5.9% in the second quarter. Albert D Mason Inc. now owns 23,648 shares of the financial services provider’s stock worth $927,000 after purchasing an additional 1,318 shares during the last quarter. 63.98% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Trading Up 2.2 %

Shares of NYSE FBK opened at $37.09 on Friday. The firm’s 50-day moving average price is $39.86 and its 200-day moving average price is $40.20. FB Financial Co. has a 1-year low of $34.02 and a 1-year high of $47.40. The firm has a market capitalization of $1.74 billion, a P/E ratio of 13.01 and a beta of 1.05.

FB Financial (NYSE:FBKGet Rating) last announced its quarterly earnings data on Monday, October 17th. The financial services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.13). FB Financial had a net margin of 23.26% and a return on equity of 10.34%. The company had revenue of $133.98 million for the quarter, compared to analyst estimates of $138.70 million. During the same quarter in the prior year, the company posted $0.89 EPS. Equities research analysts forecast that FB Financial Co. will post 2.87 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Wednesday, November 9th were issued a $0.13 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.40%. FB Financial’s dividend payout ratio is presently 18.25%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FBK. JPMorgan Chase & Co. reduced their price objective on shares of FB Financial from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 25th. Janney Montgomery Scott cut shares of FB Financial from a “buy” rating to a “neutral” rating and set a $40.00 price target on the stock. in a research report on Wednesday, December 14th. Hovde Group cut shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $42.00 price target on the stock. in a research report on Wednesday, December 14th. StockNews.com started coverage on shares of FB Financial in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut shares of FB Financial from an “outperform” rating to a “market perform” rating and cut their price target for the company from $48.00 to $45.00 in a research report on Wednesday, October 19th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.86.

Insider Buying and Selling

In other FB Financial news, Director James W. Iv Cross bought 5,000 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average price of $35.06 per share, for a total transaction of $175,300.00. Following the acquisition, the director now directly owns 55,638 shares of the company’s stock, valued at approximately $1,950,668.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other FB Financial news, Director James W. Iv Cross bought 5,000 shares of the stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average price of $35.06 per share, for a total transaction of $175,300.00. Following the acquisition, the director now directly owns 55,638 shares of the company’s stock, valued at approximately $1,950,668.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilburn J. Evans sold 60,000 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $43.05, for a total transaction of $2,583,000.00. Following the completion of the sale, the insider now owns 22,429 shares in the company, valued at approximately $965,568.45. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

About FB Financial

(Get Rating)

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 two segments, 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 engages in the mortgage origination business.

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Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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