Teacher Retirement System of Texas Grows Stock Holdings in FB Financial Co. (NYSE:FBK)

Teacher Retirement System of Texas grew its stake in FB Financial Co. (NYSE:FBK) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,528 shares of the financial services provider’s stock after purchasing an additional 412 shares during the period. Teacher Retirement System of Texas owned approximately 0.05% of FB Financial worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FBK. Geode Capital Management LLC grew its holdings in FB Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after buying an additional 7,021 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in FB Financial by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 373,345 shares of the financial services provider’s stock worth $17,521,000 after purchasing an additional 14,797 shares during the last quarter. JPMorgan Chase & Co. raised its stake in FB Financial by 8.0% during the third quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock worth $3,134,000 after purchasing an additional 4,918 shares during the period. FMR LLC boosted its holdings in FB Financial by 42.0% in the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 2,109 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of FB Financial by 39.7% in the 4th quarter. SG Americas Securities LLC now owns 19,850 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 5,642 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on FBK shares. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price objective on the stock in a report on Tuesday, March 11th. Keefe, Bruyette & Woods lifted their target price 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. Finally, StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.60.

FB Financial Stock Down 1.9 %

NYSE:FBK opened at $47.04 on Friday. FB Financial Co. has a 52 week low of $33.35 and a 52 week high of $58.88. The stock’s fifty day moving average is $50.08 and its two-hundred day moving average is $50.76. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.05 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.01. FB Financial had a return on equity of 10.43% and a net margin of 15.18%. On average, sell-side analysts expect that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The firm also recently disclosed 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 positive change from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.62%. FB Financial’s dividend payout ratio (DPR) is presently 30.77%.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was bought at an average price of $50.26 per share, with a total value of $100,520.00. Following the transaction, the insider now directly owns 10,915,841 shares of the company’s stock, valued at approximately $548,630,168.66. This represents a 0.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 14,000 shares of company stock worth $710,180. Corporate insiders own 1.70% of the company’s stock.

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.