Amalgamated Bank Lowers Position in FB Financial Co. (NYSE:FBK)

Amalgamated Bank reduced its stake in FB Financial Co. (NYSE:FBK) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,411 shares of the financial services provider’s stock after selling 377 shares during the quarter. Amalgamated Bank’s holdings in FB Financial were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FBK. Dimensional Fund Advisors LP raised its position in FB Financial by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after buying an additional 106,553 shares during the last quarter. Millennium Management LLC raised its position in FB Financial by 259.9% in the 2nd quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock valued at $4,628,000 after buying an additional 85,620 shares during the last quarter. Salzhauer Michael purchased a new stake in FB Financial in the 2nd quarter valued at $2,596,000. Rosenthal Henry Capital Advisors Inc. purchased a new stake in FB Financial in the 3rd quarter valued at $1,935,000. Finally, Janus Henderson Group PLC raised its position in FB Financial by 3.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock valued at $42,812,000 after buying an additional 33,310 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FB Financial news, Director James W. Iv Cross sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $58.22, for a total value of $291,100.00. Following the completion of the transaction, the director now owns 54,078 shares in the company, valued at $3,148,421.16. This trade represents a 8.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder James W. Ayers bought 500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $51.00 per share, with a total value of $25,500.00. Following the purchase, the insider now owns 10,906,841 shares in the company, valued at $556,248,891. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 13,000 shares of company stock valued at $658,460. 1.70% of the stock is owned by insiders.

FB Financial Stock Performance

Shares of FBK opened at $55.83 on Friday. The business has a 50-day moving average of $48.80 and a 200 day moving average of $43.75. FB Financial Co. has a fifty-two week low of $32.09 and a fifty-two week high of $58.88. The firm has a market cap of $2.61 billion, a P/E ratio of 24.37 and a beta of 1.12.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share for the quarter, topping 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 company had revenue of $169.13 million during the quarter, compared to analyst estimates of $127.44 million. During the same quarter last year, the firm posted $0.71 EPS. As a group, research analysts predict that FB Financial Co. will post 3.38 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio (DPR) is currently 29.69%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FBK. Keefe, Bruyette & Woods raised their target price on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. StockNews.com lowered FB Financial from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Hovde Group raised their target price on FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.80.

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.