FB Financial Corporation $FBK Stake Lessened by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in shares of FB Financial Corporation (NYSE:FBK) by 11.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,761 shares of the financial services provider’s stock after selling 15,874 shares during the period. Peregrine Capital Management LLC’s holdings in FB Financial were worth $6,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. acquired a new stake in shares of FB Financial in the 2nd quarter valued at $794,000. Allspring Global Investments Holdings LLC increased its position in FB Financial by 21.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 266,327 shares of the financial services provider’s stock worth $14,845,000 after acquiring an additional 47,278 shares during the period. Deprince Race & Zollo Inc. acquired a new position in shares of FB Financial during the third quarter valued at about $48,674,000. Lbmc Investment Advisors LLC bought a new stake in shares of FB Financial in the 2nd quarter worth approximately $254,000. Finally, Keystone Financial Group Inc. lifted its position in FB Financial by 229.7% in the third quarter. Keystone Financial Group Inc. now owns 167,152 shares of the financial services provider’s stock worth $9,317,000 after purchasing an additional 116,459 shares during the period. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Down 1.4%

Shares of NYSE:FBK opened at $58.08 on Friday. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $60.51. The stock has a market cap of $3.11 billion, a PE ratio of 27.14 and a beta of 0.98. The business has a 50 day moving average of $56.15 and a 200-day moving average of $53.26.

FB Financial (NYSE:FBK) last posted its quarterly earnings data on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. The firm 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%. Equities research analysts expect that FB Financial Corporation will post 3.64 earnings per share for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were given a dividend of $0.19 per share. The ex-dividend date was Monday, November 10th. This represents a $0.76 annualized dividend and a yield of 1.3%. FB Financial’s dividend payout ratio (DPR) is currently 35.51%.

Wall Street Analyst Weigh In

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

About FB Financial

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.