New York State Common Retirement Fund Acquires 83,682 Shares of FB Financial Corporation $FBK

New York State Common Retirement Fund grew its holdings in shares of FB Financial Corporation (NYSE:FBK) by 42.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 280,366 shares of the financial services provider’s stock after purchasing an additional 83,682 shares during the period. New York State Common Retirement Fund owned approximately 0.52% of FB Financial worth $15,628,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FBK. AQR Capital Management LLC grew its stake in shares of FB Financial by 23.8% during the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after acquiring an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the last quarter. Millennium Management LLC grew its position in FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock worth $16,419,000 after purchasing an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in FB Financial during the 1st quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of FB Financial by 39.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after buying an additional 22,662 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder James Austin Mcpherson sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $60.06, for a total transaction of $510,510.00. Following the sale, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. This trade represents a 47.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.90% of the company’s stock.

FB Financial Price Performance

Shares of FB Financial stock opened at $57.54 on Monday. The firm’s fifty day simple moving average is $57.55 and its 200-day simple moving average is $54.63. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 23.98 and a beta of 1.00. FB Financial Corporation has a 12 month low of $38.83 and a 12 month high of $62.37.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.02. The business had revenue of $178.36 million for the quarter, compared to the consensus estimate of $176.30 million. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.During the same period in the prior year, the business earned $0.85 earnings per share. Analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Tuesday, February 10th will be given a $0.21 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, February 10th. FB Financial’s dividend payout ratio (DPR) is presently 31.67%.

Wall Street Analyst Weigh In

FBK has been the topic of a number of research analyst reports. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FB Financial in a report on Thursday, January 22nd. Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $65.00 in a report on Friday, January 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $66.00 price objective (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.20.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.