FB Financial Corporation $FBK Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its position in FB Financial Corporation (NYSE:FBK) by 51.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 12,842 shares of the financial services provider’s stock after selling 13,463 shares during the period. Squarepoint Ops LLC’s holdings in FB Financial were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Simplicity Wealth LLC raised its position in FB Financial by 1.2% in the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 190 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of FB Financial by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock worth $449,000 after buying an additional 216 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of FB Financial by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock worth $1,041,000 after buying an additional 235 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of FB Financial by 3.4% during the second quarter. Arizona State Retirement System now owns 12,159 shares of the financial services provider’s stock worth $673,000 after buying an additional 395 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in FB Financial by 4.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 9,695 shares of the financial services provider’s stock valued at $537,000 after acquiring an additional 400 shares during the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Price Performance

FBK opened at $53.39 on Friday. The business has a 50 day simple moving average of $58.41 and a 200-day simple moving average of $55.22. The stock has a market capitalization of $2.67 billion, a P/E ratio of 14.31 and a beta of 0.92. FB Financial Corporation has a 12 month low of $49.24 and a 12 month high of $62.65.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.14. The firm had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts anticipate that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, August 11th. FB Financial’s payout ratio is presently 22.52%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FBK. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a research note on Tuesday, July 14th. Raymond James Financial upped their price target on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Benchmark increased their price target on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $64.67.

FB Financial Company Profile

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.