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

Allspring Global Investments Holdings LLC decreased its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.47% of FB Financial worth $10,265,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of FB Financial by 293.8% in the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock valued at $13,544,000 after buying an additional 196,172 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of FB Financial in the fourth quarter valued at $9,546,000. 12th Street Asset Management Company LLC grew its stake in shares of FB Financial by 65.2% in the fourth quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider's stock valued at $10,163,000 after buying an additional 77,885 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of FB Financial by 6,237.7% in the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock valued at $2,962,000 after buying an additional 62,876 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of FB Financial by 489.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 70,696 shares of the financial services provider's stock valued at $3,642,000 after buying an additional 58,703 shares in the last quarter. Institutional investors own 65.40% of the company's stock.

FB Financial Stock Down 1.6%

Shares of FB Financial stock traded down $0.78 during trading on Monday, reaching $46.75. The company's stock had a trading volume of 293,489 shares, compared to its average volume of 189,352. The business's 50-day moving average price is $44.37 and its 200-day moving average price is $47.00. The firm has a market cap of $2.14 billion, a PE ratio of 17.19 and a beta of 0.91. FB Financial Corporation has a 52 week low of $38.21 and a 52 week high of $58.88.

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

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, May 13th. FB Financial's dividend payout ratio (DPR) is presently 27.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler reduced their price objective 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. Wall Street Zen raised shares of FB Financial from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Stephens reduced their price objective 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. Keefe, Bruyette & Woods reduced their price objective on shares of FB Financial from $58.00 to $52.00 and set a "market perform" rating for the company in a research report on Thursday, April 17th. Finally, Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their target price 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.75.

Insider Buying and Selling

In related news, Director James W. Iv Cross purchased 7,200 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was acquired 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 directly owned 61,278 shares in the company, valued at $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

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.