T. Rowe Price Investment Management Inc. Trims Stock Position in FB Financial Corporation $FBK

T. Rowe Price Investment Management Inc. lessened its stake in FB Financial Corporation (NYSE:FBK) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,319,317 shares of the financial services provider’s stock after selling 131,114 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.09% of FB Financial worth $200,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of FB Financial in the 1st quarter valued at about $33,000. Sterling Capital Management LLC increased its position in FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after buying an additional 997 shares during the period. GAMMA Investing LLC lifted its stake in FB Financial by 36.7% in the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock valued at $64,000 after buying an additional 370 shares during the last quarter. CWM LLC grew its position in shares of FB Financial by 58.2% during the first quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 611 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in shares of FB Financial in the 4th quarter valued at $206,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FB Financial stock opened at $50.4270 on Thursday. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88. The company has a market cap of $2.72 billion, a P/E ratio of 26.13 and a beta of 0.92. The firm has a fifty day moving average of $47.33 and a two-hundred day moving average of $46.35.

FB Financial (NYSE:FBK) last issued its earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $76.86 million during the quarter, compared to analysts’ expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. As a group, equities analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial’s dividend payout ratio is 39.38%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FBK. Keefe, Bruyette & Woods upgraded shares of FB Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen downgraded shares of FB Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $58.25.

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.