Bank of New York Mellon Corp Has $12.90 Million Holdings in FB Financial Corporation (NYSE:FBK)

Bank of New York Mellon Corp lessened its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,154 shares of the financial services provider's stock after selling 11,996 shares during the period. Bank of New York Mellon Corp owned approximately 0.60% of FB Financial worth $12,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of FB Financial by 3.5% during the 1st quarter. Principal Financial Group Inc. now owns 192,645 shares of the financial services provider's stock worth $8,931,000 after acquiring an additional 6,444 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of FB Financial by 6.4% during the 1st quarter. Peregrine Capital Management LLC now owns 130,119 shares of the financial services provider's stock worth $6,032,000 after acquiring an additional 7,772 shares during the period. TBH Global Asset Management LLC lifted its holdings in shares of FB Financial by 5.3% during the 1st quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider's stock worth $268,000 after acquiring an additional 290 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of FB Financial by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,414 shares of the financial services provider's stock worth $900,000 after acquiring an additional 623 shares during the period. Finally, Blue Trust Inc. bought a new stake in shares of FB Financial during the 1st quarter worth approximately $211,000. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Down 0.8%

NYSE:FBK traded down $0.41 on Thursday, hitting $48.14. The company had a trading volume of 395,708 shares, compared to its average volume of 554,417. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 24.94 and a beta of 0.91. The firm has a 50 day moving average of $45.35 and a two-hundred day moving average of $46.71. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The business had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. As a group, equities analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Tuesday, May 13th. FB Financial's dividend payout ratio (DPR) is currently 39.38%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stephens cut their price target on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and dropped their price objective for the company from $60.00 to $59.00 in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Piper Sandler dropped 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 note on Thursday, April 17th. Finally, Wall Street Zen downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.25.

About FB Financial

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.