CapWealth Advisors LLC Sells 879 Shares of FB Financial Co. (NYSE:FBK)

CapWealth Advisors LLC trimmed its stake in FB Financial Co. (NYSE:FBK) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,209 shares of the financial services provider’s stock after selling 879 shares during the period. CapWealth Advisors LLC’s holdings in FB Financial were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FBK. Charles Schwab Investment Management Inc. raised its holdings in FB Financial by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 291,337 shares of the financial services provider’s stock worth $11,610,000 after purchasing an additional 12,443 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in FB Financial during the fourth quarter valued at approximately $812,000. Dimensional Fund Advisors LP boosted its stake in FB Financial by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock valued at $70,099,000 after acquiring an additional 40,394 shares in the last quarter. Heartland Advisors Inc. purchased a new position in FB Financial in the fourth quarter worth $11,237,000. Finally, Quadrant Capital Group LLC increased its position in shares of FB Financial by 85.7% during the fourth quarter. Quadrant Capital Group LLC now owns 3,638 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,679 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FBK shares. Stephens reissued an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research report on Tuesday, July 16th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price objective on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.33.

FB Financial Stock Down 1.6 %

Shares of NYSE:FBK opened at $46.47 on Friday. FB Financial Co. has a 52-week low of $27.42 and a 52-week high of $48.80. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 19.53 and a beta of 1.14. The business has a 50-day moving average price of $44.18 and a 200-day moving average price of $39.28.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $128.22 million during the quarter, compared to analyst estimates of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. As a group, equities analysts anticipate that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. FB Financial’s dividend payout ratio is presently 28.57%.

FB Financial 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.