Earnest Partners LLC Has $17.64 Million Stock Holdings in FB Financial Co. (NYSE:FBK)

Earnest Partners LLC lessened its stake in shares of FB Financial Co. (NYSE:FBK) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468,403 shares of the financial services provider’s stock after selling 10,284 shares during the period. Earnest Partners LLC owned 1.00% of FB Financial worth $17,640,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in FB Financial during the fourth quarter valued at approximately $43,000. Quadrant Capital Group LLC grew its holdings in 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 valued at $145,000 after purchasing an additional 1,679 shares during the last quarter. SG Americas Securities LLC acquired a new position in FB Financial during the first quarter valued at approximately $165,000. Foundry Partners LLC bought a new stake in shares of FB Financial in the fourth quarter valued at approximately $217,000. Finally, Mutual of America Capital Management LLC bought a new stake in shares of FB Financial in the fourth quarter valued at approximately $245,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $40.50 in a research report on Tuesday, April 16th. Piper Sandler cut FB Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $41.00 to $46.00 in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods increased their price objective on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research report on Wednesday, July 17th. StockNews.com raised FB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Stephens reaffirmed an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, FB Financial presently has a consensus rating of “Hold” and an average target price of $42.33.

FB Financial Trading Down 1.4 %

FBK stock traded down $0.66 during midday trading on Monday, hitting $46.58. The stock had a trading volume of 318,418 shares, compared to its average volume of 147,454. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 19.57 and a beta of 1.14. FB Financial Co. has a 52 week low of $27.42 and a 52 week high of $48.30. The stock has a 50-day simple moving average of $39.17 and a 200 day simple moving average of $37.64.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.46%. 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.