Victory Capital Management Inc. Cuts Holdings in FB Financial Co. (NYSE:FBK)

Victory Capital Management Inc. decreased its position in FB Financial Co. (NYSE:FBKGet Rating) by 0.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 622,667 shares of the financial services provider’s stock after selling 3,830 shares during the period. Victory Capital Management Inc. owned about 1.31% of FB Financial worth $27,559,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in shares of FB Financial by 5.1% in the first quarter. Envestnet Asset Management Inc. now owns 64,380 shares of the financial services provider’s stock valued at $2,860,000 after purchasing an additional 3,105 shares during the period. Southern Capital Advisors LLC acquired a new position in FB Financial during the first quarter worth about $311,000. CapWealth Advisors LLC boosted its position in FB Financial by 307.3% during the first quarter. CapWealth Advisors LLC now owns 64,871 shares of the financial services provider’s stock worth $2,882,000 after acquiring an additional 48,943 shares during the last quarter. Signaturefd LLC boosted its holdings in FB Financial by 32.9% in the 1st quarter. Signaturefd LLC now owns 1,127 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 279 shares during the last quarter. Finally, Comerica Bank boosted its holdings in FB Financial by 1.2% in the 1st quarter. Comerica Bank now owns 31,294 shares of the financial services provider’s stock valued at $1,337,000 after purchasing an additional 375 shares during the last quarter. Institutional investors and hedge funds own 63.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of FB Financial from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Friday, July 1st. Stephens boosted their price target on shares of FB Financial to $50.00 in a research note on Friday, July 22nd. Piper Sandler cut their target price on shares of FB Financial to $52.00 in a research note on Friday, July 22nd. Finally, Truist Financial cut their target price on shares of FB Financial to $46.00 in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.75.

FB Financial Price Performance

Shares of NYSE:FBK opened at $42.42 on Thursday. The stock has a market cap of $2.00 billion, a P/E ratio of 13.64 and a beta of 1.06. The firm has a fifty day moving average price of $40.54 and a 200 day moving average price of $41.99. FB Financial Co. has a 1-year low of $37.00 and a 1-year high of $48.03.

FB Financial (NYSE:FBKGet Rating) last issued its quarterly earnings results on Monday, July 18th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.37). FB Financial had a return on equity of 10.88% and a net margin of 25.37%. During the same quarter last year, the firm posted $0.88 EPS. Sell-side analysts expect that FB Financial Co. will post 3.16 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Monday, August 8th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.23%. FB Financial’s payout ratio is currently 16.72%.

FB Financial Profile

(Get Rating)

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 two segments, 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 engages in the mortgage origination business.

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Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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