FB Financial Corporation $FBK Shares Sold by Homestead Advisers Corp

Homestead Advisers Corp reduced its stake in FB Financial Corporation (NYSE:FBK) by 14.0% 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 124,359 shares of the financial services provider’s stock after selling 20,200 shares during the period. Homestead Advisers Corp’s holdings in FB Financial were worth $5,633,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Atria Investments Inc raised its stake in shares of FB Financial by 10.2% in the second quarter. Atria Investments Inc now owns 28,618 shares of the financial services provider’s stock valued at $1,296,000 after acquiring an additional 2,639 shares in the last quarter. Peregrine Capital Management LLC raised its stake in shares of FB Financial by 3.5% in the second quarter. Peregrine Capital Management LLC now owns 134,635 shares of the financial services provider’s stock valued at $6,099,000 after acquiring an additional 4,516 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of FB Financial in the second quarter valued at $793,000. AlphaQuest LLC raised its stake in shares of FB Financial by 62.7% in the second quarter. AlphaQuest LLC now owns 46,157 shares of the financial services provider’s stock valued at $2,091,000 after acquiring an additional 17,779 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of FB Financial in the second quarter valued at $403,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FBK has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $66.00 price objective (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Piper Sandler raised their price target on FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upgraded FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.80.

FB Financial Stock Performance

Shares of FBK stock opened at $53.87 on Wednesday. The stock’s 50-day moving average is $54.79 and its two-hundred day moving average is $49.18. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 25.17 and a beta of 0.97. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $60.51.

FB Financial (NYSE:FBK) last issued its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. The company had revenue of $163.71 million for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%. As a group, research analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is presently 35.51%.

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.