Brookstone Capital Management reduced its position in FB Financial Co. (NYSE:FBK – Get Rating) by 5.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,677 shares of the financial services provider's stock after selling 511 shares during the quarter. Brookstone Capital Management's holdings in FB Financial were worth $350,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in FB Financial by 8.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 26,799 shares of the financial services provider's stock valued at $1,051,000 after buying an additional 1,990 shares during the period. Bank of America Corp DE increased its stake in FB Financial by 7.1% in the 1st quarter. Bank of America Corp DE now owns 598,664 shares of the financial services provider's stock valued at $26,592,000 after buying an additional 39,627 shares during the period. Sawtooth Solutions LLC acquired a new position in FB Financial in the 1st quarter valued at $237,000. Point72 Hong Kong Ltd increased its stake in FB Financial by 413.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,616 shares of the financial services provider's stock valued at $72,000 after buying an additional 1,301 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in shares of FB Financial during the 1st quarter worth $13,000,000. 65.10% of the stock is owned by institutional investors and hedge funds.
Get FB Financial alerts:Wall Street Analysts Forecast Growth
Several equities research analysts have commented on FBK shares. JPMorgan Chase & Co. decreased their target price on shares of FB Financial from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Friday, July 1st. Truist Financial decreased their target price on shares of FB Financial from $46.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, September 14th. Janney Montgomery Scott started coverage on shares of FB Financial in a research report on Tuesday, September 13th. They set a "buy" rating on the stock. Piper Sandler decreased their target price on shares of FB Financial to $50.00 in a research report on Monday, August 22nd. Finally, StockNews.com lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, FB Financial has a consensus rating of "Hold" and an average target price of $46.00.
FB Financial Stock Down 1.1 %
FB Financial stock opened at $39.50 on Friday. FB Financial Co. has a 52 week low of $37.00 and a 52 week high of $48.03. The firm's 50-day simple moving average is $41.26 and its 200 day simple moving average is $41.19. The firm has a market capitalization of $1.85 billion, a PE ratio of 12.70 and a beta of 1.07.FB Financial (NYSE:FBK – Get Rating) last released its earnings results on Monday, July 18th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.14). The firm had revenue of $135.39 million during the quarter, compared to analysts' expectations of $141.54 million. FB Financial had a net margin of 25.37% and a return on equity of 10.88%. During the same quarter last year, the company posted $0.88 earnings per share. On average, research analysts expect that FB Financial Co. will post 3.05 EPS for the current fiscal year.
FB Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.32%. FB Financial's dividend payout ratio (DPR) is 16.72%.
About FB Financial
(Get Rating)
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 two segments, 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 engages in the mortgage origination business.
Featured Articles
- Get a free copy of the StockNews.com research report on FB Financial (FBK)
- MarketBeat: Week in Review 9/19 – 9/23
- Why Does Tesla Stock Remain Resilient?
- Is Costco's Post-Earnings Price Weakness A Good Time To Buy?
- Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
- Will Crowdstrike Get A Boost From Increased EPS Guidance?
Want to see what other hedge funds are holding FBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FB Financial Co. (NYSE:FBK – Get Rating).
Receive News & Ratings for FB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FB Financial and related companies with MarketBeat.com's FREE daily email newsletter.