Bank of New York Mellon Corp Sells 8,340 Shares of FB Financial Co. (NYSE:FBK)

Bank of New York Mellon Corp decreased its position in FB Financial Co. (NYSE:FBK - Free Report) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,150 shares of the financial services provider's stock after selling 8,340 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of FB Financial worth $14,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in FB Financial by 45.2% in the 4th quarter. GAMMA Investing LLC now owns 1,008 shares of the financial services provider's stock worth $52,000 after buying an additional 314 shares during the last quarter. Albert D Mason Inc. lifted its position in FB Financial by 1.5% in the fourth quarter. Albert D Mason Inc. now owns 23,474 shares of the financial services provider's stock valued at $1,209,000 after purchasing an additional 346 shares during the last quarter. Stifel Financial Corp lifted its position in FB Financial by 0.4% in the third quarter. Stifel Financial Corp now owns 80,665 shares of the financial services provider's stock valued at $3,786,000 after purchasing an additional 356 shares during the last quarter. KBC Group NV lifted its position in FB Financial by 36.2% in the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider's stock valued at $108,000 after purchasing an additional 555 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in FB Financial by 1.9% in the third quarter. Captrust Financial Advisors now owns 34,331 shares of the financial services provider's stock valued at $1,611,000 after purchasing an additional 631 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

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Analyst Ratings Changes

Several analysts have weighed in on FBK shares. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $50.00 to $58.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Hovde Group downgraded FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 price objective for the company. in a research report on Monday, November 18th. StockNews.com upgraded FB Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler upgraded FB Financial from a "neutral" rating to an "overweight" rating and set a $58.00 price objective for the company in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, FB Financial currently has an average rating of "Hold" and an average price target of $52.60.

FB Financial Price Performance

FBK stock traded up $1.16 during midday trading on Friday, hitting $46.59. The stock had a trading volume of 107,051 shares, compared to its average volume of 144,944. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 18.86 and a beta of 1.16. The business has a 50-day moving average of $50.76 and a two-hundred day moving average of $50.76. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last released its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. Research analysts predict that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a $0.19 dividend. This is a boost from FB Financial's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Tuesday, February 11th. FB Financial's dividend payout ratio is currently 30.77%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers bought 2,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the purchase, the insider now owns 10,931,841 shares in the company, valued at approximately $530,303,606.91. The trade was a 0.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have purchased 16,000 shares of company stock valued at $813,900. Insiders own 1.70% 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.