FB Financial Co. (NYSE:FBK) Shares Sold by State Street Corp

State Street Corp decreased its stake in FB Financial Co. (NYSE:FBK - Free Report) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,501,299 shares of the financial services provider's stock after selling 17,444 shares during the quarter. State Street Corp owned about 3.22% of FB Financial worth $70,456,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FBK. Point72 Asset Management L.P. purchased a new stake in FB Financial in the 3rd quarter worth about $47,000. nVerses Capital LLC bought a new position in shares of FB Financial during the third quarter valued at approximately $84,000. Point72 DIFC Ltd purchased a new stake in shares of FB Financial in the third quarter worth approximately $110,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of FB Financial during the 3rd quarter worth approximately $124,000. Finally, Raymond James Trust N.A. purchased a new position in FB Financial during the 3rd quarter valued at $201,000. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Down 5.9 %

Shares of FBK stock traded down $3.21 during trading hours on Wednesday, hitting $51.53. The company's stock had a trading volume of 196,041 shares, compared to its average volume of 147,181. The stock has a market cap of $2.40 billion, a PE ratio of 22.50 and a beta of 1.15. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88. The company has a 50 day moving average of $53.15 and a 200 day moving average of $46.62.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $169.13 million during the quarter, compared to analysts' expectations of $127.44 million. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, analysts anticipate that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. FB Financial's dividend payout ratio is presently 29.69%.

Analysts Set New Price Targets

FBK has been the subject of a number of research reports. StockNews.com lowered FB Financial from a "hold" rating to a "sell" rating in a report on Friday, November 8th. Keefe, Bruyette & Woods upped their target price on FB Financial from $50.00 to $58.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Finally, Hovde Group lowered FB Financial from an "outperform" rating to a "market perform" rating and set a $60.00 price target on the stock. in a research note on Monday, November 18th. Two equities 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $50.20.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 1,500 shares of the firm's stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $49.58 per share, with a total value of $74,370.00. Following the completion of the acquisition, the insider now directly owns 10,892,341 shares in the company, valued at approximately $540,042,266.78. This trade represents a 0.01 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James W. Iv Cross sold 5,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was 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. This trade represents a 8.46 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 13,000 shares of company stock worth $658,460 in the last 90 days. Corporate insiders own 1.70% of the company's stock.

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.