FB Financial Co. (NYSE:FBK) Holdings Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. cut its holdings in FB Financial Co. (NYSE:FBK) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,898 shares of the financial services provider’s stock after selling 1,475 shares during the quarter. Corebridge Financial Inc.’s holdings in FB Financial were worth $973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FBK. Charles Schwab Investment Management Inc. raised its holdings in shares of FB Financial by 4.1% in the 3rd 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of FB Financial by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 19,284 shares of the financial services provider’s stock valued at $905,000 after buying an additional 1,317 shares in the last quarter. FMR LLC lifted its position in shares of FB Financial by 42.0% during the 3rd quarter. FMR LLC now owns 7,129 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 2,109 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of FB Financial by 27.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,760 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of FB Financial by 1.9% in the 3rd quarter. Captrust Financial Advisors now owns 34,331 shares of the financial services provider’s stock worth $1,611,000 after acquiring an additional 631 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FBK shares. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Piper Sandler raised their target price on shares of FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens cut their price target on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $60.00 to $59.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.40.

FB Financial Price Performance

NYSE:FBK opened at $40.74 on Friday. The stock’s 50-day moving average is $49.23 and its two-hundred day moving average is $50.71. The stock has a market cap of $1.90 billion, a PE ratio of 16.50 and a beta of 1.16. FB Financial Co. has a fifty-two week low of $33.35 and a fifty-two week high of $58.88.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. On average, equities research analysts anticipate that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. FB Financial’s dividend payout ratio (DPR) is currently 30.77%.

Insider Buying and Selling at FB Financial

In other FB Financial news, major shareholder James W. Ayers acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were purchased at an average price of $48.46 per share, with a total value of $96,920.00. Following the completion of the transaction, the insider now owns 10,917,841 shares in the company, valued at $529,078,574.86. The trade was a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have bought 14,000 shares of company stock worth $710,180 over the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

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.