FB Financial Co. (NYSE:FBK) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lowered its position in shares of FB Financial Co. (NYSE:FBK) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,052 shares of the financial services provider’s stock after selling 2,695 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.06% of FB Financial worth $1,095,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FBK. SG Americas Securities LLC acquired a new position in shares of FB Financial in the 1st quarter valued at $165,000. ProShare Advisors LLC boosted its holdings in shares of FB Financial by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 494 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of FB Financial by 17.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 1,067 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of FB Financial by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of FB Financial in the 2nd quarter valued at $450,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FBK. Keefe, Bruyette & Woods lifted their price target on shares of FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price target on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a report on Thursday, June 27th. Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $41.00 to $46.00 in a report on Wednesday, July 17th. Finally, Stephens reissued an “overweight” rating and issued a $45.00 target price on shares of FB Financial in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.33.

FB Financial Trading Down 2.9 %

Shares of FBK stock opened at $47.82 on Friday. The company’s fifty day simple moving average is $45.78 and its 200-day simple moving average is $40.11. FB Financial Co. has a 52 week low of $27.42 and a 52 week high of $49.97. The company has a market cap of $2.25 billion, a PE ratio of 20.09 and a beta of 1.13.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The business had revenue of $128.22 million for the quarter, compared to the consensus estimate of $123.52 million. Equities research analysts expect that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio (DPR) is 28.57%.

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.