FB Financial Corporation $FBK Stock Position Decreased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of FB Financial Corporation (NYSE:FBK) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,660 shares of the financial services provider’s stock after selling 267 shares during the period. PNC Financial Services Group Inc.’s holdings in FB Financial were worth $123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of FB Financial by 6,237.7% during the 1st quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider’s stock valued at $2,962,000 after acquiring an additional 62,876 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of FB Financial by 489.5% during the 4th quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider’s stock valued at $3,642,000 after acquiring an additional 58,703 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in shares of FB Financial by 29.0% during the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider’s stock valued at $13,383,000 after acquiring an additional 58,402 shares during the last quarter. Northern Trust Corp increased its holdings in shares of FB Financial by 15.3% during the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider’s stock valued at $21,886,000 after acquiring an additional 56,474 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider’s stock valued at $16,317,000 after acquiring an additional 47,761 shares during the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Trading Up 0.5%

Shares of NYSE:FBK opened at $51.1090 on Wednesday. FB Financial Corporation has a 1-year low of $38.83 and a 1-year high of $58.88. The firm has a market capitalization of $2.75 billion, a PE ratio of 26.48 and a beta of 0.92. The business’s 50 day moving average is $47.20 and its 200-day moving average is $46.32.

FB Financial (NYSE:FBK) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. On average, sell-side analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be given a $0.19 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.5%. FB Financial’s payout ratio is presently 39.38%.

Analyst Upgrades and Downgrades

FBK has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised FB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen lowered FB Financial from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, FB Financial presently has a consensus rating of “Buy” and an average target price of $58.25.

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.