Brandywine Global Investment Management LLC Trims Stake in FB Financial Corporation $FBK

Brandywine Global Investment Management LLC reduced its stake in FB Financial Corporation (NYSE:FBK) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,705 shares of the financial services provider’s stock after selling 3,900 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.19% of FB Financial worth $4,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FBK. Lbmc Investment Advisors LLC purchased a new stake in FB Financial in the second quarter worth about $254,000. Ieq Capital LLC bought a new position in shares of FB Financial during the 1st quarter valued at approximately $245,000. Trexquant Investment LP purchased a new stake in FB Financial in the 1st quarter worth approximately $769,000. Keystone Financial Group Inc. bought a new stake in FB Financial during the 2nd quarter worth approximately $2,473,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in FB Financial by 42.9% during the second quarter. Public Employees Retirement System of Ohio now owns 23,886 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 7,167 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

FB Financial Stock Performance

FBK stock opened at $54.34 on Monday. The company’s fifty day moving average price is $54.94 and its 200-day moving average price is $50.21. FB Financial Corporation has a one year low of $38.83 and a one year high of $60.51. The company has a market capitalization of $2.91 billion, a PE ratio of 25.39 and a beta of 0.97.

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

FB Financial Announces Dividend

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

FB Financial 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.