Steel Grove Capital Advisors LLC Has $256,000 Position in FB Financial Corporation (NYSE:FBK)

Steel Grove Capital Advisors LLC cut its holdings in FB Financial Corporation (NYSE:FBK) by 26.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,526 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in FB Financial were worth $256,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Sterling Capital Management LLC grew its holdings in FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 997 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 370 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of FB Financial in the fourth quarter valued at approximately $206,000. Covenant Partners LLC acquired a new stake in shares of FB Financial in the fourth quarter valued at approximately $211,000. Finally, Point72 Asset Management L.P. raised its position in FB Financial by 320.0% in the 4th quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 3,200 shares during the last quarter. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

FBK opened at $42.79 on Thursday. The firm’s fifty day moving average is $43.33 and its two-hundred day moving average is $47.93. The firm has a market cap of $1.96 billion, a PE ratio of 15.73 and a beta of 0.91. FB Financial Corporation has a twelve month low of $36.26 and a twelve month high of $58.88.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a return on equity of 10.24% and a net margin of 16.27%. During the same quarter last year, the business posted $0.85 EPS. Equities analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, May 13th. FB Financial’s dividend payout ratio (DPR) is presently 27.94%.

Insider Activity

In other FB Financial news, Director James W. Iv Cross bought 7,200 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now owns 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and lowered their target price for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Piper Sandler lowered their target price on shares of FB Financial from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Stephens cut their price target on FB Financial from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, FB Financial presently has a consensus rating of “Hold” and an average target price of $53.80.

FB Financial Company 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.