FB Financial Corporation (FBK) Stake Lessened by Elk Creek Partners LLC

Elk Creek Partners LLC trimmed its holdings in FB Financial Corporation (NYSE:FBK) by 30.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,890 shares of the financial services provider’s stock after selling 91,068 shares during the period. Elk Creek Partners LLC owned 0.70% of FB Financial Corporation worth $7,379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FBK. Wellington Management Group LLP acquired a new stake in shares of FB Financial Corporation in the first quarter valued at approximately $9,614,000. Stieven Capital Advisors L.P. acquired a new stake in shares of FB Financial Corporation in the second quarter valued at approximately $6,333,000. Mendon Capital Advisors Corp lifted its position in shares of FB Financial Corporation by 33.4% in the first quarter. Mendon Capital Advisors Corp now owns 652,224 shares of the financial services provider’s stock valued at $23,063,000 after buying an additional 163,285 shares during the last quarter. RMB Capital Management LLC lifted its position in shares of FB Financial Corporation by 106.7% in the first quarter. RMB Capital Management LLC now owns 291,720 shares of the financial services provider’s stock valued at $10,315,000 after buying an additional 150,590 shares during the last quarter. Finally, FSI Group LLC lifted its position in shares of FB Financial Corporation by 85.0% in the second quarter. FSI Group LLC now owns 185,000 shares of the financial services provider’s stock valued at $6,695,000 after buying an additional 85,000 shares during the last quarter. 31.86% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on FBK. Sandler O’Neill raised FB Financial Corporation from a “hold” rating to a “buy” rating and raised their price objective for the company from $37.00 to $39.00 in a research report on Tuesday, August 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 price objective on shares of FB Financial Corporation in a research report on Thursday, August 3rd. Stephens reaffirmed a “buy” rating and issued a $40.00 price objective on shares of FB Financial Corporation in a research report on Monday, July 31st. UBS AG reaffirmed a “buy” rating and issued a $41.00 price objective (down from $44.00) on shares of FB Financial Corporation in a research report on Wednesday, July 26th. Finally, Zacks Investment Research raised FB Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. FB Financial Corporation has an average rating of “Buy” and a consensus target price of $36.67.

FB Financial Corporation (NYSE FBK) traded down 0.39% during mid-day trading on Friday, reaching $35.58. The company had a trading volume of 891,377 shares. The stock has a market capitalization of $1.08 billion and a PE ratio of 27.95. FB Financial Corporation has a one year low of $19.81 and a one year high of $36.15. The company’s 50-day moving average is $35.39 and its 200-day moving average is $33.78.

FB Financial Corporation (NYSE:FBK) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. FB Financial Corporation had a return on equity of 11.57% and a net margin of 11.57%. The business had revenue of $66.08 million for the quarter, compared to the consensus estimate of $65.99 million. Equities research analysts anticipate that FB Financial Corporation will post $1.90 earnings per share for the current year.

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About FB Financial Corporation

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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Institutional Ownership by Quarter for FB Financial Corporation (NYSE:FBK)

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