Victory Capital Management Inc. Has $606,000 Stock Holdings in FB Financial Co. (NYSE:FBK)

Victory Capital Management Inc. trimmed its stake in shares of FB Financial Co. (NYSE:FBK) by 95.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,210 shares of the financial services provider’s stock after selling 297,439 shares during the quarter. Victory Capital Management Inc.’s holdings in FB Financial were worth $606,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Richard Bernstein Advisors LLC acquired a new position in FB Financial in the 3rd quarter valued at approximately $2,770,000. Envestnet Asset Management Inc. increased its position in FB Financial by 95.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 197,881 shares of the financial services provider’s stock valued at $5,612,000 after acquiring an additional 96,743 shares during the period. Earnest Partners LLC increased its position in FB Financial by 6.6% in the 3rd quarter. Earnest Partners LLC now owns 557,913 shares of the financial services provider’s stock valued at $15,822,000 after acquiring an additional 34,601 shares during the period. Allspring Global Investments Holdings LLC increased its position in FB Financial by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 210,318 shares of the financial services provider’s stock valued at $8,381,000 after acquiring an additional 28,786 shares during the period. Finally, Denali Advisors LLC acquired a new position in FB Financial in the 4th quarter valued at approximately $881,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FBK shares. JPMorgan Chase & Co. upped their price target on shares of FB Financial from $41.00 to $43.00 and gave the company an “underweight” rating in a research report on Wednesday, April 17th. Hovde Group raised shares of FB Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $40.50 in a research note on Tuesday, April 16th. Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $41.00 in a research note on Tuesday, April 16th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $38.00 target price on shares of FB Financial in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.00.

FB Financial Trading Down 0.9 %

FB Financial stock opened at $37.79 on Friday. FB Financial Co. has a 1-year low of $26.43 and a 1-year high of $41.00. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.88 and a beta of 1.12. The firm’s fifty day moving average price is $37.10 and its two-hundred day moving average price is $36.69.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.15. FB Financial had a net margin of 14.90% and a return on equity of 10.20%. The firm had revenue of $107.45 million for the quarter, compared to analyst estimates of $119.84 million. On average, research analysts forecast that FB Financial Co. will post 3.11 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, May 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, May 13th. FB Financial’s dividend payout ratio (DPR) is 28.57%.

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.