Bank of New York Mellon Corp Sells 8,340 Shares of FB Financial Co. (NYSE:FBK)

Bank of New York Mellon Corp cut its holdings in FB Financial Co. (NYSE:FBK) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 290,150 shares of the financial services provider’s stock after selling 8,340 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of FB Financial worth $14,946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of FB Financial by 0.9% in the third quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock valued at $38,272,000 after purchasing an additional 7,021 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 14,797 shares during the period. JPMorgan Chase & Co. lifted its position in FB Financial by 8.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 66,775 shares of the financial services provider’s stock worth $3,134,000 after acquiring an additional 4,918 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in FB Financial during the third quarter valued at about $1,557,000. Finally, FMR LLC boosted its holdings in FB Financial by 42.0% during the third 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 period. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Price Performance

NYSE FBK opened at $45.95 on Thursday. The stock’s 50 day simple moving average is $50.96 and its 200 day simple moving average is $50.78. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The firm has a market cap of $2.15 billion, a PE ratio of 18.60 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted 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%. As a group, equities analysts expect that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, February 11th. This is an increase from FB Financial’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.65%. FB Financial’s dividend payout ratio is presently 30.77%.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was acquired at an average price of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the acquisition, the insider now owns 10,913,841 shares of the company’s stock, valued at $560,971,427.40. This trade represents a 0.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 16,000 shares of company stock worth $813,900 in the last quarter. 1.70% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price target on shares of FB Financial from $50.00 to $58.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Hovde Group downgraded shares of FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a report on Monday, November 18th. Finally, Piper Sandler upgraded shares of FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 target price for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FB Financial has a consensus rating of “Hold” and a consensus target price of $52.60.

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.