Thrivent Financial for Lutherans Sells 420 Shares of FB Financial Co. (NYSE:FBK)

Thrivent Financial for Lutherans trimmed its position in shares of FB Financial Co. (NYSE:FBK) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,051 shares of the financial services provider’s stock after selling 420 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of FB Financial worth $1,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 12th Street Asset Management Company LLC lifted its position in shares of FB Financial by 65.2% during the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after purchasing an additional 77,885 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in shares of FB Financial by 59.4% during the fourth quarter. Simplicity Wealth LLC now owns 13,177 shares of the financial services provider’s stock worth $679,000 after buying an additional 4,912 shares during the last quarter. Amundi lifted its holdings in shares of FB Financial by 185.9% during the fourth quarter. Amundi now owns 17,611 shares of the financial services provider’s stock worth $885,000 after buying an additional 11,452 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of FB Financial in the fourth quarter worth $9,546,000. Finally, Atria Investments Inc increased its position in FB Financial by 75.2% during the fourth quarter. Atria Investments Inc now owns 15,651 shares of the financial services provider’s stock worth $806,000 after acquiring an additional 6,716 shares during the period. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of research reports. 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. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target on the stock in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, FB Financial presently has an average rating of “Hold” and an average price target of $52.60.

FB Financial Stock Performance

NYSE:FBK opened at $47.04 on Monday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 19.05 and a beta of 1.16. The company has a 50-day moving average of $50.08 and a 200-day moving average of $50.84. FB Financial Co. has a 52 week low of $33.35 and a 52 week high of $58.88.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. Sell-side analysts forecast that FB Financial Co. will post 3.64 EPS for the current year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 11th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.62%. This is a boost from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, February 11th. FB Financial’s dividend payout ratio is 30.77%.

Insiders Place Their Bets

In other news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of $50.26 per share, with a total value of $100,520.00. Following the completion of the purchase, the insider now owns 10,915,841 shares of the company’s stock, valued at $548,630,168.66. This represents a 0.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 14,000 shares of company stock worth $710,180 over the last three months. 1.70% of the stock is currently owned by corporate insiders.

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.