Teacher Retirement System of Texas Decreases Position in FB Financial Corporation (NYSE:FBK)

Teacher Retirement System of Texas lessened its holdings in FB Financial Corporation (NYSE:FBK) by 20.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,435 shares of the financial services provider’s stock after selling 5,093 shares during the quarter. Teacher Retirement System of Texas’ holdings in FB Financial were worth $947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in FB Financial by 293.8% in the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after acquiring an additional 196,172 shares during the period. Raymond James Financial Inc. bought a new position in FB Financial in the fourth quarter worth approximately $9,546,000. GAMMA Investing LLC raised its position in FB Financial by 6,237.7% in the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider’s stock worth $2,962,000 after acquiring an additional 62,876 shares during the period. Tudor Investment Corp ET AL raised its position in FB Financial by 489.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider’s stock worth $3,642,000 after acquiring an additional 58,703 shares during the period. Finally, Nuveen Asset Management LLC raised its position in FB Financial by 29.0% in the fourth quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock worth $13,383,000 after acquiring an additional 58,402 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FBK shares. Piper Sandler reduced their price target on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and reduced their price objective for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. Stephens reduced their price objective on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $52.00 to $58.00 in a research note on Friday. Finally, Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Insider Transactions at FB Financial

In other news, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the purchase, the director directly owned 61,278 shares of the company’s stock, valued at $2,481,146.22. This trade represents a 13.31% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by company insiders.

FB Financial Stock Performance

Shares of FBK opened at $49.25 on Tuesday. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88. The stock has a market capitalization of $2.26 billion, a P/E ratio of 18.11 and a beta of 0.91. The company’s fifty day moving average is $44.87 and its two-hundred day moving average is $46.81.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). The business had revenue of $76.86 million during the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a return on equity of 10.24% and a net margin of 16.27%. Sell-side analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, May 13th. FB Financial’s dividend payout ratio (DPR) is 27.94%.

About FB Financial

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.