New York State Teachers Retirement System Lowers Stake in FB Financial Co. (NYSE:FBK)

New York State Teachers Retirement System lowered its position in shares of FB Financial Co. (NYSE:FBK) by 3.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,328 shares of the financial services provider’s stock after selling 500 shares during the period. New York State Teachers Retirement System’s holdings in FB Financial were worth $611,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in FB Financial by 1.3% during the second quarter. BlackRock Inc. now owns 6,297,375 shares of the financial services provider’s stock valued at $176,641,000 after purchasing an additional 78,805 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of FB Financial by 7.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,169,690 shares of the financial services provider’s stock worth $186,833,000 after buying an additional 348,790 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of FB Financial by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,319,852 shares of the financial services provider’s stock worth $103,047,000 after buying an additional 45,267 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FB Financial by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,606,696 shares of the financial services provider’s stock worth $49,934,000 after buying an additional 111,871 shares in the last quarter. Finally, Wasatch Advisors Inc. lifted its holdings in shares of FB Financial by 17.7% in the first quarter. Wasatch Advisors Inc. now owns 1,579,663 shares of the financial services provider’s stock worth $70,169,000 after buying an additional 237,256 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Down 0.2 %

FB Financial 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 company has a market cap of $1.67 billion, a price-to-earnings ratio of 14.94 and a beta of 1.15. The firm’s fifty day moving average is $35.96 and its 200 day moving average is $35.12.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The business had revenue of $116.43 million for the quarter, compared to analysts’ expectations of $121.58 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. On average, equities research analysts anticipate that FB Financial Co. will post 2.84 earnings per share for the current fiscal year.

FB Financial Increases Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on FBK. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $40.50 in a report on Tuesday. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and upped their price target for the company from $38.00 to $41.00 in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $38.00 price target on shares of FB Financial in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.43.

Insider Buying and Selling at FB Financial

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