FB Financial Co. (NYSE:FBK) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in FB Financial Co. (NYSE:FBK) by 3.0% during the third quarter, Holdings Channel.com reports. The fund owned 17,033 shares of the financial services provider’s stock after selling 523 shares during the quarter. Victory Capital Management Inc.’s holdings in FB Financial were worth $799,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FBK. Dimensional Fund Advisors LP boosted its holdings in FB Financial by 5.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock valued at $75,623,000 after acquiring an additional 106,553 shares during the last quarter. Millennium Management LLC lifted its stake in shares of FB Financial by 259.9% during the second quarter. Millennium Management LLC now owns 118,569 shares of the financial services provider’s stock worth $4,628,000 after purchasing an additional 85,620 shares in the last quarter. Salzhauer Michael acquired a new position in shares of FB Financial during the second quarter worth about $2,596,000. Rosenthal Henry Capital Advisors Inc. acquired a new position in shares of FB Financial during the third quarter worth about $1,935,000. Finally, Marshall Wace LLP acquired a new position in shares of FB Financial during the second quarter worth about $630,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 16th. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Hovde Group cut FB Financial from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, FB Financial has an average rating of “Hold” and a consensus price target of $48.60.

Insider Activity at FB Financial

In related news, Director James W. Iv Cross sold 5,000 shares of the business’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 directly owns 54,078 shares of the company’s stock, valued at $3,148,421.16. The trade was a 8.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder James W. Ayers bought 500 shares of the stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost of $51.00 per share, with a total value of $25,500.00. Following the completion of the acquisition, the insider now directly owns 10,906,841 shares of the company’s stock, valued at approximately $556,248,891. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 13,000 shares of company stock valued at $658,460 over the last three months. 1.70% of the stock is owned by insiders.

FB Financial Stock Performance

Shares of NYSE FBK opened at $56.31 on Thursday. FB Financial Co. has a 1 year low of $32.09 and a 1 year high of $58.88. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 24.59 and a beta of 1.12. The stock’s 50-day simple moving average is $50.34 and its 200-day simple moving average is $44.76.

FB Financial (NYSE:FBK) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. FB Financial had a return on equity of 10.38% and a net margin of 14.40%. The business had revenue of $169.13 million for the quarter, compared to analyst estimates of $127.44 million. During the same period in the previous year, the company earned $0.71 earnings per share. As a group, research analysts predict that FB Financial Co. will post 3.38 EPS for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.21%. The ex-dividend date was Tuesday, November 5th. FB Financial’s dividend payout ratio is currently 29.69%.

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.