UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in FB Financial Corporation $FBK

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in FB Financial Corporation (NYSE:FBK) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,924 shares of the financial services provider’s stock after selling 10,085 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.11% of FB Financial worth $3,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Toth Financial Advisory Corp boosted its position in FB Financial by 4.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 9,695 shares of the financial services provider’s stock worth $537,000 after purchasing an additional 400 shares during the period. Public Employees Retirement System of Ohio purchased a new position in FB Financial in the 2nd quarter worth approximately $3,536,000. Corient Private Wealth LP acquired a new stake in FB Financial in the second quarter valued at approximately $1,202,000. Bank of America Corp DE acquired a new stake in FB Financial in the second quarter valued at approximately $39,460,000. Finally, Basswood Capital Management L.L.C. purchased a new stake in shares of FB Financial during the second quarter valued at approximately $1,839,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Up 0.0%

Shares of NYSE FBK opened at $54.71 on Friday. FB Financial Corporation has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The business has a 50 day moving average price of $58.67 and a two-hundred day moving average price of $55.31. The firm has a market cap of $2.73 billion, a PE ratio of 14.67 and a beta of 0.92.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.14. The company had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. On average, analysts anticipate that FB Financial Corporation will post 4.67 earnings per share for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, August 11th. FB Financial’s payout ratio is 22.52%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FBK. Benchmark boosted their target price on shares of FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Raymond James Financial raised their price target on shares of FB Financial from $62.00 to $63.00 and gave the company a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, FB Financial presently has an average rating of “Buy” and a consensus price target of $64.67.

FB Financial Company 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.