SG Americas Securities LLC Decreases Stock Holdings in FB Financial Co. (NYSE:FBK)

SG Americas Securities LLC reduced its stake in shares of FB Financial Co. (NYSE:FBKGet Rating) by 70.2% in the first quarter, HoldingsChannel reports. The firm owned 9,592 shares of the financial services provider’s stock after selling 22,604 shares during the period. SG Americas Securities LLC’s holdings in FB Financial were worth $426,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in shares of FB Financial by 20.3% during the 4th quarter. Teacher Retirement System of Texas now owns 6,423 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 1,085 shares during the last quarter. CapWealth Advisors LLC raised its stake in FB Financial by 2.4% in the fourth quarter. CapWealth Advisors LLC now owns 15,928 shares of the financial services provider’s stock valued at $698,000 after buying an additional 375 shares during the last quarter. Earnest Partners LLC raised its stake in FB Financial by 76.8% in the fourth quarter. Earnest Partners LLC now owns 338,864 shares of the financial services provider’s stock valued at $14,849,000 after buying an additional 147,199 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in FB Financial in the fourth quarter valued at about $8,292,000. Finally, Penn Capital Management Company LLC raised its stake in FB Financial by 0.5% in the fourth quarter. Penn Capital Management Company LLC now owns 276,790 shares of the financial services provider’s stock valued at $11,896,000 after buying an additional 1,347 shares during the last quarter. 63.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FBK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on FB Financial from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Friday, July 1st. Truist Financial decreased their price target on FB Financial to $46.00 in a research note on Friday, July 22nd. Stephens increased their price target on FB Financial to $50.00 in a research note on Friday, July 22nd. StockNews.com cut FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 29th. Finally, Piper Sandler reduced their price objective on FB Financial to $52.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.

FB Financial Stock Up 1.3 %

Shares of NYSE:FBK opened at $42.97 on Friday. FB Financial Co. has a 52-week low of $37.00 and a 52-week high of $48.03. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 13.82 and a beta of 1.06. The business has a 50-day moving average price of $40.57 and a 200-day moving average price of $41.95.

FB Financial (NYSE:FBKGet Rating) last posted its earnings results on Monday, July 18th. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate 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 period last year, the business earned $0.88 EPS. As a group, equities analysts anticipate that FB Financial Co. will post 3.16 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Investors of record on Monday, August 8th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, August 5th. FB Financial’s dividend payout ratio (DPR) is 16.72%.

FB Financial Company 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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