FB Financial Corporation (NYSE:FBK) Stock Holdings Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 221,418 shares of the financial services provider's stock after selling 12,846 shares during the period. Allspring Global Investments Holdings LLC owned 0.47% of FB Financial worth $10,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after purchasing an additional 370 shares in the last quarter. Albert D Mason Inc. raised its holdings in FB Financial by 1.7% during the first quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after purchasing an additional 398 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in FB Financial by 1.6% during the fourth quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock worth $1,315,000 after purchasing an additional 412 shares in the last quarter. Summit Global Investments grew its position in FB Financial by 2.3% in the first quarter. Summit Global Investments now owns 19,255 shares of the financial services provider's stock worth $893,000 after buying an additional 429 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of FB Financial by 11.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,418 shares of the financial services provider's stock valued at $279,000 after buying an additional 569 shares in the last quarter. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Up 1.1%

NYSE:FBK traded up $0.54 during trading hours on Friday, hitting $47.53. 223,654 shares of the stock traded hands, compared to its average volume of 188,933. The firm has a 50 day moving average price of $44.37 and a 200 day moving average price of $47.02. FB Financial Corporation has a fifty-two week low of $38.21 and a fifty-two week high of $58.88. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 17.47 and a beta of 0.91.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. FB Financial had a net margin of 16.27% and a return on equity of 10.24%. The company had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. During the same period in the previous year, the business earned $0.85 EPS. Research analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.60%. The ex-dividend date was Tuesday, May 13th. FB Financial's dividend payout ratio (DPR) is currently 27.94%.

Insider Transactions at FB Financial

In other news, Director James W. Iv Cross acquired 7,200 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the acquisition, the director owned 61,278 shares in the company, valued at approximately $2,481,146.22. The trade was a 13.31% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FBK. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and dropped their price target for the company from $60.00 to $59.00 in a report on Tuesday, April 1st. Stephens dropped their price target on FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a report on Thursday, April 17th. Piper Sandler dropped their price target on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, FB Financial currently has an average rating of "Moderate Buy" and an average target price of $56.75.

FB Financial Company 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.