FB Financial Corporation $FBK Stake Trimmed by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in FB Financial Corporation by 22.8%, selling 39,739 shares and now owns about 0.29% of the company, valued at $6.22 million.
• Recent analyst reports show a mixed outlook, with Wall Street Zen downgrading the stock from a "hold" to a "sell," while Keefe, Bruyette & Woods upgraded it to "outperform" with a new target price of $58.00.
• FB Financial recently announced a quarterly dividend of $0.19 per share, resulting in a 1.4% dividend yield, with an ex-dividend date of August 12th.

American Century Companies Inc. cut its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 134,273 shares of the financial services provider's stock after selling 39,739 shares during the quarter. American Century Companies Inc. owned 0.29% of FB Financial worth $6,225,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after purchasing an additional 62,876 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in FB Financial by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider's stock valued at $8,924,000 after buying an additional 3,779 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in FB Financial by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock valued at $14,136,000 after buying an additional 3,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FB Financial by 4.1% in the fourth 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 buying an additional 790 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in FB Financial by 17.8% in the fourth quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock valued at $16,317,000 after buying an additional 47,761 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and raised their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $58.25.

FB Financial Price Performance

Shares of FBK traded down $0.23 during trading hours on Monday, reaching $53.69. 288,694 shares of the company's stock traded hands, compared to its average volume of 406,708. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 27.82 and a beta of 0.93. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $58.88. The business's fifty day simple moving average is $48.74 and its two-hundred day simple moving average is $46.28.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The business had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. On average, equities research analysts expect 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, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, August 12th. FB Financial's payout ratio is presently 39.38%.

FB Financial 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.