B. Riley Wealth Advisors Inc. Sells 1,067 Shares of FB Financial Co. (NYSE:FBK)

B. Riley Wealth Advisors Inc. lowered its stake in FB Financial Co. (NYSE:FBK) by 14.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,278 shares of the financial services provider’s stock after selling 1,067 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in FB Financial were worth $250,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FBK. Heartland Advisors Inc. bought a new stake in shares of FB Financial in the 4th quarter valued at $11,237,000. Wasatch Advisors LP grew its position in FB Financial by 26.3% in the 4th quarter. Wasatch Advisors LP now owns 1,060,062 shares of the financial services provider’s stock valued at $42,243,000 after purchasing an additional 220,835 shares during the period. Mendon Capital Advisors Corp acquired a new stake in FB Financial in the 4th quarter valued at $5,978,000. Richard Bernstein Advisors LLC acquired a new stake in FB Financial in the 3rd quarter valued at $2,770,000. Finally, Envestnet Asset Management Inc. grew its position in FB Financial by 95.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 197,881 shares of the financial services provider’s stock valued at $5,612,000 after purchasing an additional 96,743 shares during the period. Institutional investors own 65.40% of the company’s stock.

FB Financial Stock Up 1.4 %

Shares of FBK opened at $37.12 on Thursday. The business’s 50-day moving average price is $37.30 and its 200-day moving average price is $37.20. FB Financial Co. has a twelve month low of $26.71 and a twelve month high of $41.00. The stock has a market cap of $1.74 billion, a PE ratio of 15.61 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.15. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. The firm had revenue of $107.45 million for the quarter, compared to analysts’ expectations of $119.84 million. Analysts expect that FB Financial Co. will post 3.12 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, May 13th. FB Financial’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

FBK has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $38.00 price target on shares of FB Financial in a research report on Wednesday, April 17th. Stephens raised shares of FB Financial from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $39.00 to $45.00 in a report on Thursday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of FB Financial from $41.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, April 17th. StockNews.com raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Piper Sandler raised shares of FB Financial from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $38.00 to $41.00 in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.00.

About FB Financial

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.