Earnest Partners LLC Has $17.96 Million Stock Position in FB Financial Co. (NYSE:FBK)

Earnest Partners LLC lessened its position in shares of FB Financial Co. (NYSE:FBK) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 460,266 shares of the financial services provider’s stock after selling 8,137 shares during the quarter. Earnest Partners LLC owned approximately 0.98% of FB Financial worth $17,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FBK. SG Americas Securities LLC acquired a new stake in FB Financial during the first quarter worth $165,000. Renaissance Technologies LLC acquired a new stake in shares of FB Financial during the 2nd quarter valued at about $217,000. ProShare Advisors LLC boosted its position in shares of FB Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 494 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 1,067 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in FB Financial by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 1,424 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FBK opened at $46.38 on Friday. The stock has a fifty day moving average price of $45.88 and a two-hundred day moving average price of $40.35. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 19.49 and a beta of 1.13. FB Financial Co. has a 52-week low of $27.42 and a 52-week high of $49.97.

FB Financial (NYSE:FBK) last issued its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, research analysts predict that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. FB Financial’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

FBK has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on FB Financial from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, July 17th. Stephens reiterated an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective 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, Piper Sandler lowered shares of FB Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $41.00 to $46.00 in a report on Wednesday, July 17th. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.33.

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.