Inspire Investing LLC Decreases Stake in FB Financial Co. (NYSE:FBK)

Inspire Investing LLC reduced its holdings in FB Financial Co. (NYSE:FBK) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,084 shares of the financial services provider’s stock after selling 370 shares during the period. Inspire Investing LLC’s holdings in FB Financial were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wasatch Advisors LP lifted its stake in shares of FB Financial by 13.1% in the first quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after buying an additional 139,395 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in FB Financial by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock worth $70,099,000 after purchasing an additional 40,394 shares during the period. Salzhauer Michael purchased a new position in FB Financial during the second quarter worth about $2,596,000. Quest Partners LLC purchased a new position in FB Financial during the second quarter worth about $450,000. Finally, Charles Schwab Investment Management Inc. raised its stake in FB Financial by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 291,337 shares of the financial services provider’s stock worth $11,610,000 after purchasing an additional 12,443 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Price Performance

Shares of FBK opened at $47.84 on Friday. FB Financial Co. has a 1-year low of $27.42 and a 1-year high of $49.97. The stock has a market cap of $2.25 billion, a PE ratio of 20.10 and a beta of 1.13. The firm has a 50-day simple moving average of $45.78 and a two-hundred day simple moving average of $40.14.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 15th. The financial services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $128.22 million during the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. As a group, sell-side analysts expect that FB Financial Co. will post 3.25 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.