Louisiana State Employees Retirement System Sells 800 Shares of FB Financial Co. (NYSE:FBK)

Louisiana State Employees Retirement System decreased its holdings in shares of FB Financial Co. (NYSE:FBK) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,900 shares of the financial services provider’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FB Financial were worth $793,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its holdings in shares of FB Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,747 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 398 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in FB Financial by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 412 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of FB Financial by 2.7% during the second quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock valued at $685,000 after buying an additional 467 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of FB Financial by 2.4% during the first quarter. Illinois Municipal Retirement Fund now owns 19,904 shares of the financial services provider’s stock valued at $750,000 after buying an additional 468 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of FB Financial by 0.4% during the second quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock valued at $4,346,000 after buying an additional 482 shares during the last quarter. Institutional investors own 65.40% of the company’s stock.

Insider Buying and Selling

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the stock in a transaction on Friday, October 25th. The stock was acquired at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the acquisition, the insider now owns 10,902,341 shares in the company, valued at $524,729,672.33. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder James W. Ayers acquired 500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $51.00 per share, with a total value of $25,500.00. Following the completion of the acquisition, the insider now owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder James W. Ayers acquired 2,000 shares of FB Financial stock in a transaction dated Friday, October 25th. The stock was purchased at an average price of $48.13 per share, with a total value of $96,260.00. Following the completion of the purchase, the insider now owns 10,902,341 shares of the company’s stock, valued at approximately $524,729,672.33. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,000 shares of company stock worth $489,910 in the last ninety days. 1.70% of the stock is owned by insiders.

FB Financial Price Performance

Shares of FBK stock opened at $48.03 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 20.97 and a beta of 1.12. The stock’s 50-day moving average is $47.34 and its 200 day moving average is $42.71. FB Financial Co. has a 1-year low of $30.01 and a 1-year high of $51.63.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.82 by $0.04. The firm had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same quarter in the previous year, the business posted $0.71 EPS. On average, analysts anticipate that FB Financial Co. will post 3.34 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.42%. FB Financial’s payout ratio is 29.69%.

Wall Street Analysts Forecast Growth

FBK has been the subject of several research reports. Hovde Group boosted their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Stephens restated an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods upped their target price on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and raised their price target for the company from $41.00 to $46.00 in a research note on Wednesday, July 17th. Finally, StockNews.com lowered shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, FB Financial currently has an average rating of “Hold” and a consensus target price of $47.80.

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.