FB Financial Corporation $FBK Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in FB Financial Corporation (NYSE:FBK) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 274,657 shares of the financial services provider’s stock after selling 3,497 shares during the quarter. Bank of New York Mellon Corp owned 0.60% of FB Financial worth $12,442,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FBK. Avantax Advisory Services Inc. increased its stake in shares of FB Financial by 0.7% in the first quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider’s stock worth $1,609,000 after acquiring an additional 253 shares during the last quarter. Raymond James Financial Inc. grew its stake in FB Financial by 0.3% in the first quarter. Raymond James Financial Inc. now owns 185,937 shares of the financial services provider’s stock valued at $8,620,000 after purchasing an additional 606 shares in the last quarter. CWM LLC increased its position in FB Financial by 58.2% in the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 611 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in FB Financial in the 1st quarter worth about $33,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of FB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on FBK. Weiss Ratings restated a “hold (c)” rating on shares of FB Financial in a report on Wednesday, October 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Piper Sandler increased their price target on shares of FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research note on Sunday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.80.

FB Financial Stock Up 1.6%

Shares of FBK stock opened at $52.94 on Wednesday. The business’s 50 day moving average is $54.93 and its two-hundred day moving average is $50.02. FB Financial Corporation has a 12 month low of $38.83 and a 12 month high of $60.51. The company has a market cap of $2.83 billion, a PE ratio of 24.74 and a beta of 0.97.

FB Financial (NYSE:FBK) last issued its quarterly earnings results 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, equities analysts expect that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

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

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.