Allspring Global Investments Holdings LLC Sells 12,846 Shares of FB Financial Corporation (NYSE:FBK)

Allspring Global Investments Holdings LLC cut its position in FB Financial Corporation (NYSE:FBK - Free Report) by 5.5% during the first quarter, according to its most recent 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 quarter. Allspring Global Investments Holdings LLC owned approximately 0.47% of FB Financial worth $10,265,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in FB Financial by 6,237.7% in the 1st quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock valued at $2,962,000 after purchasing an additional 62,876 shares during the period. Intech Investment Management LLC boosted its holdings in FB Financial by 136.2% in the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after purchasing an additional 9,570 shares during the period. Ameriprise Financial Inc. boosted its holdings in FB Financial by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock valued at $14,136,000 after purchasing an additional 3,492 shares during the period. Summit Global Investments bought a new stake in FB Financial in the 4th quarter valued at $970,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in FB Financial by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider's stock valued at $1,041,000 after purchasing an additional 790 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Down 1.6%

FB Financial stock traded down $0.78 during midday trading on Monday, hitting $46.75. 293,786 shares of the stock were exchanged, compared to its average volume of 189,353. The company has a fifty day simple moving average of $44.46 and a two-hundred day simple moving average of $46.96. FB Financial Corporation has a 52 week low of $38.21 and a 52 week high of $58.88. The stock has a market capitalization of $2.14 billion, a PE ratio of 17.19 and a beta of 0.91.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. FB Financial had a net margin of 16.27% and a return on equity of 10.24%. The business had revenue of $130.67 million for the quarter, compared to analyst estimates of $132.28 million. During the same quarter last year, the firm earned $0.85 EPS. As a group, equities research analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors 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 1.63%. The ex-dividend date of this dividend was Tuesday, May 13th. FB Financial's payout ratio is 27.94%.

Insiders Place Their Bets

In related news, Director James W. Iv Cross purchased 7,200 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were purchased at an average price of $40.49 per share, with a total value of $291,528.00. Following the completion of the purchase, the director owned 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

FBK has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price target on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a report on Thursday, April 17th. Piper Sandler dropped their target price on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen upgraded shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Hovde Group upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.