First Trust Advisors LP Reduces Holdings in FB Financial Corporation $FBK

First Trust Advisors LP decreased its position in shares of FB Financial Corporation (NYSE:FBK) by 47.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 12,824 shares of the financial services provider’s stock after selling 11,577 shares during the period. First Trust Advisors LP’s holdings in FB Financial were worth $666,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FBK. Artemis Investment Management LLP bought a new stake in shares of FB Financial in the 4th quarter worth approximately $1,875,000. Vanguard Group Inc. raised its holdings in shares of FB Financial by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 3,018,224 shares of the financial services provider’s stock valued at $168,417,000 after purchasing an additional 60,430 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after buying an additional 28,023 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of FB Financial by 1,690,485.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after purchasing an additional 3,127,398 shares during the period. Finally, UBS Group AG increased its holdings in FB Financial by 21.8% during the fourth quarter. UBS Group AG now owns 225,446 shares of the financial services provider’s stock valued at $12,580,000 after buying an additional 40,388 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FBK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a research report on Tuesday, July 14th. Hovde Group dropped their price target on FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Benchmark boosted their price objective on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald set a $65.00 price target on FB Financial in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to MarketBeat, FB Financial presently has an average rating of “Buy” and an average target price of $64.67.

FB Financial Price Performance

FBK opened at $61.43 on Wednesday. The business’s 50-day moving average is $56.97 and its two-hundred day moving average is $55.47. FB Financial Corporation has a 1 year low of $47.47 and a 1 year high of $62.44. The firm has a market capitalization of $3.07 billion, a PE ratio of 16.47 and a beta of 0.94.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The company had revenue of $175.94 million during the quarter, compared to analysts’ expectations of $177.45 million. As a group, sell-side analysts expect that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 11th. FB Financial’s dividend payout ratio (DPR) is presently 22.52%.

FB Financial announced that its board has approved a share buyback program on Monday, April 27th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to buy up to 6.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.