Charles Schwab Investment Management Inc. Sells 8,827 Shares of FB Financial Corporation $FBK

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in FB Financial Corporation by 2.3%, selling 8,827 shares during the first quarter, leaving them with 367,461 shares valued at approximately $17 million.
• FB Financial recently reported earnings per share (EPS) of $0.88, which fell short of the consensus estimate of $0.89, alongside a revenue of $76.86 million compared to an expected $136.32 million.
• The company declared a quarterly dividend of $0.19 per share, with an annualized yield of 1.4%, payable on August 26th to shareholders of record as of August 12th.

Charles Schwab Investment Management Inc. reduced its stake in FB Financial Corporation (NYSE:FBK - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 367,461 shares of the financial services provider's stock after selling 8,827 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.79% of FB Financial worth $17,035,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in FB Financial in the 1st quarter worth $33,000. GAMMA Investing LLC raised its holdings in FB Financial by 36.7% in the 1st 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 during the period. CWM LLC lifted its position in shares of FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock valued at $77,000 after acquiring an additional 611 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 290 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in shares of FB Financial in the fourth quarter valued at about $206,000. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FBK has been the topic of several research analyst reports. Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $58.25.

FB Financial Trading Up 6.4%

Shares of FBK stock opened at $53.3890 on Friday. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The stock's 50-day moving average price is $47.67 and its 200-day moving average price is $46.34. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.66 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last issued its 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 return on equity of 10.15% and a net margin of 11.46%.The firm had revenue of $76.86 million during the quarter, compared to the consensus estimate of $136.32 million. As a group, research analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial's payout ratio is presently 39.38%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.