Comerica Bank Has $621,000 Position in FB Financial Co. (NYSE:FBK)

Comerica Bank cut its stake in FB Financial Co. (NYSE:FBK) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,050 shares of the financial services provider’s stock after selling 328 shares during the quarter. Comerica Bank’s holdings in FB Financial were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Sterling Capital Management LLC boosted its holdings in FB Financial by 810.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 997 shares in the last quarter. KBC Group NV boosted its holdings in FB Financial by 36.2% in the fourth quarter. KBC Group NV now owns 2,090 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 555 shares in the last quarter. LPL Financial LLC bought a new stake in FB Financial in the fourth quarter worth $206,000. Lbmc Investment Advisors LLC bought a new stake in FB Financial in the fourth quarter worth $220,000. Finally, Bank of Montreal Can bought a new stake in FB Financial during the fourth quarter valued at about $221,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Stock Performance

Shares of FBK opened at $45.84 on Thursday. The company has a 50-day simple moving average of $44.02 and a 200-day simple moving average of $49.71. The firm has a market capitalization of $2.11 billion, a P/E ratio of 18.56 and a beta of 0.93. FB Financial Co. has a 52 week low of $34.50 and a 52 week high of $58.88.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. The firm had revenue of $130.67 million during the quarter, compared to analyst estimates of $132.28 million. During the same quarter in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts forecast that FB Financial Co. will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, May 13th. FB Financial’s payout ratio is 27.94%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of FB Financial from $58.00 to $52.00 and set a “market perform” rating for the company in a report on Thursday, April 17th. StockNews.com upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Stephens decreased their price target on shares of FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Hovde Group upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. Finally, Piper Sandler decreased their price target on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.80.

Insider Transactions at FB Financial

In related news, major shareholder James W. Ayers purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $48.51 per share, with a total value of $97,020.00. Following the completion of the purchase, the insider now directly owns 10,931,841 shares of the company’s stock, valued at $530,303,606.91. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction on Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the purchase, the director now owns 61,278 shares of the company’s stock, valued at approximately $2,481,146.22. The trade was a 13.31% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

FB Financial Company 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.