Thrivent Financial for Lutherans Cuts Position in FB Financial Co. (NYSE:FBK)

Thrivent Financial for Lutherans trimmed its position in shares of FB Financial Co. (NYSE:FBK) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,471 shares of the financial services provider’s stock after selling 1,784 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of FB Financial worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in FB Financial by 0.4% in the first quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after acquiring an additional 9,694 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 106,553 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after purchasing an additional 15,739 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in FB Financial by 2.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 204,983 shares of the financial services provider’s stock valued at $8,001,000 after buying an additional 4,364 shares during the period. Finally, American Century Companies Inc. lifted its position in FB Financial by 1.2% in the second quarter. American Century Companies Inc. now owns 180,129 shares of the financial services provider’s stock worth $7,030,000 after buying an additional 2,110 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

FB Financial Trading Up 0.2 %

FBK opened at $56.45 on Monday. The business’s fifty day simple moving average is $50.65 and its 200-day simple moving average is $45.06. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of 24.65 and a beta of 1.12. FB Financial Co. has a 12-month low of $32.82 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. The business had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. During the same quarter last year, the firm posted $0.71 EPS. On average, equities research analysts predict that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. FB Financial’s dividend payout ratio is currently 29.69%.

Insider Buying and Selling at FB Financial

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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James W. Ayers acquired 1,500 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were bought at an average price of $49.58 per share, for a total transaction of $74,370.00. Following the acquisition, the insider now owns 10,892,341 shares of the company’s stock, valued at approximately $540,042,266.78. This represents a 0.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 13,000 shares of company stock valued at $658,460. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FBK. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a research note on Monday, November 18th. StockNews.com downgraded FB Financial from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on FB Financial from $48.00 to $50.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.60.

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.