Earnest Partners LLC Sells 24,087 Shares of FB Financial Corporation $FBK

Earnest Partners LLC lowered its position in shares of FB Financial Corporation (NYSE:FBK) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,879 shares of the financial services provider’s stock after selling 24,087 shares during the period. Earnest Partners LLC owned about 0.61% of FB Financial worth $18,220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Savant Capital LLC raised its holdings in shares of FB Financial by 5.2% during the 3rd quarter. Savant Capital LLC now owns 4,977 shares of the financial services provider’s stock valued at $277,000 after buying an additional 245 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in FB Financial by 6.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 4,705 shares of the financial services provider’s stock worth $262,000 after buying an additional 278 shares during the last quarter. UMB Bank n.a. boosted its stake in FB Financial by 155.9% in the third quarter. UMB Bank n.a. now owns 481 shares of the financial services provider’s stock worth $27,000 after buying an additional 293 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in FB Financial by 4.1% in the third quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock worth $424,000 after buying an additional 299 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in FB Financial by 24.5% during the third quarter. GAMMA Investing LLC now owns 1,964 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 387 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FB Financial news, major shareholder James Austin Mcpherson sold 8,500 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $60.06, for a total value of $510,510.00. Following the transaction, the insider owned 9,484 shares in the company, valued at approximately $569,609.04. The trade was a 47.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

FBK has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Thursday, January 22nd. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $65.00 in a research report on Friday, January 23rd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.20.

FB Financial Price Performance

Shares of FB Financial stock opened at $51.15 on Monday. FB Financial Corporation has a one year low of $38.83 and a one year high of $62.37. The business’s 50 day simple moving average is $57.46 and its two-hundred day simple moving average is $56.13. The stock has a market capitalization of $2.65 billion, a P/E ratio of 21.31 and a beta of 0.99.

FB Financial (NYSE:FBK) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. FB Financial had a return on equity of 11.21% and a net margin of 13.07%.The firm had revenue of $178.36 million during the quarter, compared to analyst estimates of $176.30 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Sell-side analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were issued a $0.21 dividend. This is a boost from FB Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. FB Financial’s payout ratio is 35.00%.

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.