Illinois Municipal Retirement Fund Decreases Stake in FB Financial Co. (NYSE:FBK)

Illinois Municipal Retirement Fund lowered its position in FB Financial Co. (NYSE:FBK) by 8.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,436 shares of the financial services provider’s stock after selling 1,774 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in FB Financial were worth $775,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in FB Financial in the 3rd quarter worth about $71,000. PNC Financial Services Group Inc. increased its holdings in FB Financial by 17.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 449 shares during the last quarter. Quantbot Technologies LP increased its holdings in FB Financial by 30.8% in the 3rd quarter. Quantbot Technologies LP now owns 7,250 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 1,706 shares during the last quarter. Hsbc Holdings PLC purchased a new position in FB Financial during the 3rd quarter valued at about $206,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in FB Financial during the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 2.3 %

Shares of NYSE FBK opened at $37.03 on Tuesday. FB Financial Co. has a 12 month low of $24.34 and a 12 month high of $41.00. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.56 and a beta of 1.15. The business has a 50-day moving average of $36.10 and a 200-day moving average of $35.66.

FB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Tuesday, February 13th were given a $0.17 dividend. This is an increase from FB Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.68 dividend on an annualized basis and a yield of 1.84%. FB Financial’s payout ratio is presently 28.57%.

Insider Buying and Selling

In other news, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average price of $36.35 per share, for a total transaction of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares of the company’s stock, valued at approximately $395,736,670.35. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder James W. Ayers bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $35.91 per share, for a total transaction of $107,730.00. Following the transaction, the insider now directly owns 10,884,841 shares of the company’s stock, valued at approximately $390,874,640.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James W. Ayers bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average price of $36.35 per share, with a total value of $72,700.00. Following the transaction, the insider now directly owns 10,886,841 shares in the company, valued at $395,736,670.35. The disclosure for this purchase can be found here. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FBK. JPMorgan Chase & Co. lifted their target price on FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $38.00 target price on shares of FB Financial in a report on Wednesday, April 17th. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $40.50 in a report on Tuesday, April 16th. Stephens reduced their target price on FB Financial from $45.00 to $41.00 and set an “equal weight” rating for the company in a report on Wednesday, January 17th. Finally, StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, FB Financial presently has a consensus rating of “Hold” and a consensus target price of $39.43.

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.