FB Financial Co. (NYSE:FBK) Stock Holdings Trimmed by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP lessened its holdings in shares of FB Financial Co. (NYSE:FBK) by 1.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,118 shares of the financial services provider’s stock after selling 340 shares during the quarter. Wakefield Asset Management LLLP owned about 0.05% of FB Financial worth $980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wasatch Advisors LP lifted its holdings in FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of FB Financial by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after acquiring an additional 40,394 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $11,610,000 after acquiring an additional 12,443 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of FB Financial by 7.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 30,315 shares of the financial services provider’s stock valued at $1,142,000 after acquiring an additional 2,103 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of FB Financial by 13.5% during the first quarter. Russell Investments Group Ltd. now owns 12,796 shares of the financial services provider’s stock valued at $482,000 after acquiring an additional 1,518 shares during the period. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FBK shares. JPMorgan Chase & Co. decreased their price target on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research note on Thursday, June 27th. Piper Sandler lowered FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target 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, Stephens reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of FB Financial in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.33.

FB Financial Price Performance

Shares of FBK opened at $45.59 on Friday. The company has a 50-day moving average of $44.31 and a two-hundred day moving average of $39.33. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 19.16 and a beta of 1.14. FB Financial Co. has a one year low of $27.42 and a one year high of $48.80.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.24% and a net margin of 15.34%. Analysts anticipate that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, August 6th. FB Financial’s 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.