Luken Investment Analytics LLC Sells 7,476 Shares of FB Financial Co. (NYSE:FBK)

Luken Investment Analytics LLC decreased its stake in FB Financial Co. (NYSE:FBK) by 33.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,604 shares of the financial services provider’s stock after selling 7,476 shares during the quarter. Luken Investment Analytics LLC’s holdings in FB Financial were worth $685,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in FB Financial by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,631 shares of the financial services provider’s stock worth $75,623,000 after acquiring an additional 106,553 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of FB Financial by 7.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 229,829 shares of the financial services provider’s stock valued at $10,786,000 after buying an additional 15,739 shares in the last quarter. Salzhauer Michael bought a new position in FB Financial in the 2nd quarter worth $2,596,000. Quest Partners LLC purchased a new stake in FB Financial in the 2nd quarter worth $450,000. Finally, SG Americas Securities LLC bought a new stake in FB Financial during the third quarter valued at about $667,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Performance

FBK stock traded down $0.29 during midday trading on Friday, reaching $48.91. 107,481 shares of the company traded hands, compared to its average volume of 145,439. FB Financial Co. has a 52-week low of $29.55 and a 52-week high of $51.63. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 21.36 and a beta of 1.13. The business has a 50 day moving average of $47.33 and a 200-day moving average of $42.53.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a net margin of 14.40% and a return on equity of 10.38%. During the same period in the prior year, the firm posted $0.71 EPS. Research analysts anticipate that FB Financial Co. will post 3.34 earnings per share for the current year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, November 5th. FB Financial’s dividend payout ratio is currently 29.69%.

Analysts Set New Price Targets

FBK has been the subject of several research analyst reports. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $41.00 to $46.00 in a research report on Wednesday, July 17th. Stephens reaffirmed an “overweight” rating and set a $45.00 price objective on shares of FB Financial in a report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their target price on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. StockNews.com cut shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Hovde Group increased their price objective on shares of FB Financial from $52.50 to $56.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.80.

Insider Activity at FB Financial

In related news, major shareholder James W. Ayers acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average price of $48.17 per share, for a total transaction of $96,340.00. Following the acquisition, the insider now directly owns 10,894,341 shares of the company’s stock, valued at $524,780,405.97. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder James W. Ayers acquired 500 shares of FB Financial stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $25,500.00. Following the acquisition, the insider now directly owns 10,906,841 shares of the company’s stock, valued at $556,248,891. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder James W. Ayers bought 2,000 shares of the stock in a transaction on Monday, October 21st. The stock was purchased at an average price of $48.17 per share, with a total value of $96,340.00. Following the completion of the acquisition, the insider now directly owns 10,894,341 shares in the company, valued at approximately $524,780,405.97. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 10,000 shares of company stock worth $489,910 in the last quarter. 1.70% of the stock is owned by company insiders.

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.