Earnest Partners LLC Has $16.72 Million Holdings in FB Financial Corporation $FBK

Key Points

• Earnest Partners LLC sold 43,563 shares of FB Financial Corporation, reducing its stake by 10.8%, leaving it with 360,578 shares valued at approximately $16.7 million.
• Four analysts currently rate FB Financial as a Buy, with the average price target set at $58.25, despite a downgraded rating from Wall Street Zen to sell.
• FB Financial Corporation's recent earnings report showed a missed EPS estimate of $0.88, compared to a consensus of $0.89, with revenue also falling short of expectations at $76.86 million.

Earnest Partners LLC lessened its holdings in FB Financial Corporation (NYSE:FBK - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,578 shares of the financial services provider's stock after selling 43,563 shares during the period. Earnest Partners LLC owned about 0.78% of FB Financial worth $16,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in FBK. Wealth Preservation Advisors LLC purchased a new position in shares of FB Financial during the 1st quarter worth approximately $881,000. Ieq Capital LLC purchased a new stake in FB Financial during the 1st quarter valued at approximately $245,000. Penn Capital Management Company LLC grew its stake in shares of FB Financial by 8.2% in the 1st quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider's stock valued at $12,861,000 after purchasing an additional 21,026 shares during the last quarter. Jump Financial LLC purchased a new position in shares of FB Financial during the 1st quarter worth approximately $430,000. Finally, AlphaQuest LLC boosted its stake in shares of FB Financial by 286.4% during the 1st quarter. AlphaQuest LLC now owns 28,378 shares of the financial services provider's stock worth $1,316,000 after acquiring an additional 21,034 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

FB Financial Stock Performance

Shares of FB Financial stock traded down $0.23 during trading on Monday, hitting $53.69. 288,694 shares of the stock traded hands, compared to its average volume of 406,708. The stock has a market cap of $2.89 billion, a P/E ratio of 27.82 and a beta of 0.93. The company has a fifty day moving average price of $48.74 and a two-hundred day moving average price of $46.28. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data 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). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The company had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. On average, equities research analysts expect that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. FB Financial's dividend payout ratio (DPR) is 39.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FBK. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $58.25.

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.