Earnest Partners LLC Sells 10,284 Shares of FB Financial Co. (NYSE:FBK)

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

Several other large investors also recently added to or reduced their stakes in FBK. Denali Advisors LLC bought a new stake in FB Financial during the fourth quarter worth approximately $881,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of FB Financial by 5.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,236 shares of the financial services provider’s stock valued at $647,000 after buying an additional 855 shares during the period. Wakefield Asset Management LLLP boosted its position in shares of FB Financial by 10.7% during the fourth quarter. Wakefield Asset Management LLLP now owns 25,281 shares of the financial services provider’s stock valued at $1,007,000 after buying an additional 2,447 shares during the period. Equitable Trust Co. purchased a new position in shares of FB Financial during the fourth quarter valued at approximately $269,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of FB Financial by 15.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 210,318 shares of the financial services provider’s stock valued at $8,381,000 after buying an additional 28,786 shares during the period. 65.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stephens restated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $40.50 in a research report on Tuesday, April 16th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their price target on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a report on Thursday, June 27th. Finally, Keefe, Bruyette & Woods boosted their price target on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.33.

FB Financial Stock Performance

NYSE:FBK traded down $0.66 during trading hours on Monday, reaching $46.58. The company’s stock had a trading volume of 318,418 shares, compared to its average volume of 147,454. The company has a market capitalization of $2.19 billion, a P/E ratio of 19.57 and a beta of 1.14. FB Financial Co. has a 12 month low of $27.42 and a 12 month high of $48.30. The stock has a 50 day moving average price of $39.17 and a two-hundred day moving average price of $37.64.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Tuesday, August 6th. FB Financial’s dividend payout ratio (DPR) is 28.57%.

FB Financial Company 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.