American International Group Inc. lessened its holdings in shares of FB Financial Co. (NYSE:FBK – Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,040 shares of the financial services provider’s stock after selling 452 shares during the quarter. American International Group Inc.’s holdings in FB Financial were worth $534,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in FB Financial by 570.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 979 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 833 shares in the last quarter. First Horizon Advisors Inc. grew its stake in FB Financial by 42.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,436 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 430 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in FB Financial by 413.0% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 1,301 shares in the last quarter. Point72 Middle East FZE purchased a new position in FB Financial during the 4th quarter valued at about $87,000. Finally, SG Americas Securities LLC purchased a new position in FB Financial during the 2nd quarter valued at about $165,000. Hedge funds and other institutional investors own 63.91% of the company’s stock.
FB Financial Stock Up 2.0 %
Shares of FBK stock opened at $34.44 on Friday. FB Financial Co. has a 12 month low of $24.34 and a 12 month high of $43.36. The firm has a market cap of $1.61 billion, a PE ratio of 12.52 and a beta of 1.06. The stock has a 50 day moving average of $29.67 and a 200-day moving average of $29.84.
FB Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.15 per share. The ex-dividend date is Monday, November 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.74%. FB Financial’s dividend payout ratio (DPR) is presently 21.82%.
Analysts Set New Price Targets
FBK has been the subject of several recent research reports. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and set a $35.50 price target for the company in a research note on Wednesday, October 18th. Raymond James initiated coverage on FB Financial in a research note on Thursday, August 31st. They issued a “market perform” rating for the company. TheStreet raised FB Financial from a “c+” rating to a “b-” rating in a research note on Monday, August 7th. Janney Montgomery Scott raised FB Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $35.50 in a research note on Wednesday, October 18th. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, FB Financial has a consensus rating of “Hold” and an average target price of $34.67.
Insider Transactions at FB Financial
In other FB Financial news, major shareholder James W. Ayers purchased 6,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was bought at an average cost of $30.57 per share, for a total transaction of $198,705.00. Following the completion of the acquisition, the insider now directly owns 10,875,841 shares in the company, valued at $332,474,459.37. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.90% of the company’s stock.
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.
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