American Century Companies Inc. Sells 14,302 Shares of FB Financial Co. (NYSE:FBK)

American Century Companies Inc. lowered its position in FB Financial Co. (NYSE:FBK) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,012 shares of the financial services provider’s stock after selling 14,302 shares during the quarter. American Century Companies Inc. owned approximately 0.37% of FB Financial worth $8,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Global Investments bought a new position in shares of FB Financial during the fourth quarter worth approximately $970,000. Teacher Retirement System of Texas grew its holdings in FB Financial by 1.6% in the 4th quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 412 shares in the last quarter. Intech Investment Management LLC increased its position in FB Financial by 136.2% during the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider’s stock worth $855,000 after buying an additional 9,570 shares during the period. 12th Street Asset Management Company LLC lifted its holdings in shares of FB Financial by 65.2% during the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after buying an additional 77,885 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its position in shares of FB Financial by 59.4% in the fourth quarter. Simplicity Wealth LLC now owns 13,177 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 4,912 shares during the period. Institutional investors own 65.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on FBK. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, January 22nd. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $60.00 to $59.00 in a research report on Tuesday. Piper Sandler increased their price target on FB Financial from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price objective on FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens cut their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.40.

Insider Activity at FB Financial

In other FB Financial news, major shareholder James W. Ayers purchased 2,000 shares of the company’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 in the company, valued at $548,630,168.66. This represents a 0.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 14,000 shares of company stock valued at $710,180 in the last 90 days. 1.70% of the stock is owned by corporate insiders.

FB Financial Price Performance

Shares of FBK opened at $46.83 on Thursday. The firm has a 50 day simple moving average of $49.68 and a two-hundred day simple moving average of $50.82. FB Financial Co. has a one year low of $33.35 and a one year high of $58.88. The company has a market cap of $2.19 billion, a P/E ratio of 18.96 and a beta of 1.16.

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

FB Financial Increases Dividend

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

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.