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

Mutual of America Capital Management LLC acquired a new stake in FB Financial Co. (NYSE:FBK) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,149 shares of the financial services provider’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mariner LLC raised its position in FB Financial by 1.6% during the 3rd quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock worth $570,000 after buying an additional 323 shares during the last quarter. PNC Financial Services Group Inc. raised its position in 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 worth $85,000 after buying an additional 449 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in FB Financial by 5.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,236 shares of the financial services provider’s stock worth $647,000 after buying an additional 855 shares during the last quarter. Stifel Financial Corp raised its position in FB Financial by 1.5% during the 3rd quarter. Stifel Financial Corp now owns 65,793 shares of the financial services provider’s stock worth $1,866,000 after buying an additional 950 shares during the last quarter. Finally, Swiss National Bank raised its position in FB Financial by 1.5% during the 3rd quarter. Swiss National Bank now owns 82,283 shares of the financial services provider’s stock worth $2,334,000 after buying an additional 1,200 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $36.35 per share, with a total value of $72,700.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FB Financial news, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Wednesday, February 21st. The shares were bought at an average price of $36.35 per share, with a total value of $72,700.00. Following the purchase, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James W. Ayers bought 3,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were acquired at an average cost of $35.91 per share, for a total transaction of $107,730.00. Following the purchase, the insider now owns 10,884,841 shares in the company, valued at $390,874,640.31. The disclosure for this purchase can be found here. 1.70% of the stock is owned by corporate insiders.

FB Financial Stock Performance

FB Financial stock opened at $38.66 on Wednesday. The company’s fifty day moving average price is $36.04 and its 200 day moving average price is $35.40. FB Financial Co. has a 1 year low of $24.34 and a 1 year high of $41.00. The stock has a market capitalization of $1.81 billion, a P/E ratio of 16.24 and a beta of 1.15.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were paid a $0.17 dividend. The ex-dividend date was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a 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 currently 28.57%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FBK. JPMorgan Chase & Co. raised their price target on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 17th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $38.00 price objective on shares of FB Financial in a research note on Wednesday, April 17th. 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 research note on Tuesday, April 16th. Finally, 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 research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and a consensus price target of $39.43.

FB Financial Company 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.