Envestnet Asset Management Inc. Sells 1,871 Shares of FB Financial Corporation $FBK

Envestnet Asset Management Inc. cut its holdings in shares of FB Financial Corporation (NYSE:FBK) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,625 shares of the financial services provider’s stock after selling 1,871 shares during the period. Envestnet Asset Management Inc.’s holdings in FB Financial were worth $8,635,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of FBK. Avantax Advisory Services Inc. grew its position in shares of FB Financial by 0.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider’s stock valued at $1,609,000 after purchasing an additional 253 shares during the period. Nisa Investment Advisors LLC lifted its stake in FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider’s stock valued at $202,000 after buying an additional 290 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of 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 buying an additional 606 shares during the period. CWM LLC increased 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 in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FB Financial during the first quarter worth $33,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

FB Financial Stock Performance

Shares of NYSE FBK opened at $55.10 on Monday. The stock has a 50 day moving average price of $54.83 and a 200 day moving average price of $49.46. The stock has a market capitalization of $2.97 billion, a PE ratio of 25.75 and a beta of 0.97. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $60.51.

FB Financial (NYSE:FBK) last announced its quarterly earnings data 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, research analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders 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 of this dividend is Monday, November 10th. FB Financial’s dividend payout ratio (DPR) is 35.51%.

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.