The Manufacturers Life Insurance Company Has $905,000 Stock Holdings in FB Financial Co. (NYSE:FBK)

The Manufacturers Life Insurance Company lifted its stake in FB Financial Co. (NYSE:FBK) by 7.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,284 shares of the financial services provider’s stock after purchasing an additional 1,317 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in FB Financial were worth $905,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FBK. Louisiana State Employees Retirement System raised its stake in FB Financial by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,700 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 300 shares during the period. SummerHaven Investment Management LLC raised its position in FB Financial by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 25,895 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 412 shares during the period. Victory Capital Management Inc. lifted its stake in FB Financial by 2.7% in the 2nd quarter. Victory Capital Management Inc. now owns 17,556 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 467 shares in the last quarter. Rhumbline Advisers boosted its position in FB Financial by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 111,351 shares of the financial services provider’s stock worth $4,346,000 after acquiring an additional 482 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in FB Financial by 7.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,141 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 722 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Insider Buying and Selling

In related news, Director James W. Iv Cross sold 5,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $58.22, for a total transaction of $291,100.00. Following the transaction, the director now owns 54,078 shares of the company’s stock, valued at approximately $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were bought at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the acquisition, the insider now owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 13,000 shares of company stock valued at $658,460. Company insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FBK. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research report on Monday, November 18th. Finally, StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and an average price target of $50.20.

FB Financial Trading Down 1.0 %

Shares of NYSE:FBK opened at $55.56 on Friday. The stock has a market capitalization of $2.59 billion, a PE ratio of 24.23 and a beta of 1.15. FB Financial Co. has a 1 year low of $33.35 and a 1 year high of $58.88. The firm has a fifty day moving average price of $52.26 and a 200 day moving average price of $46.01.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The company had revenue of $169.13 million during the quarter, compared to the consensus estimate of $127.44 million. During the same quarter in the prior year, the company posted $0.71 EPS. On average, sell-side analysts forecast that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 5th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Tuesday, November 5th. FB Financial’s payout ratio is 29.69%.

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.