T. Rowe Price Investment Management Inc. Sells 131,114 Shares of FB Financial Corporation $FBK

Key Points

• T. Rowe Price Investment Management Inc. has decreased its holdings in FB Financial Corporation by 2.9%, now owning 4,319,317 shares valued at approximately $200 million.
• FB Financial recently reported quarterly earnings of $0.88 per share, missing analyst estimates, and has declared a quarterly dividend of $0.19 per share.
• Analysts have mixed ratings on FB Financial, with Wall Street Zen downgrading it to a "sell" while Keefe, Bruyette & Woods upgraded it to "outperform" with a target price increase to $58.00.

T. Rowe Price Investment Management Inc. cut its position in FB Financial Corporation (NYSE:FBK - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,319,317 shares of the financial services provider's stock after selling 131,114 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 9.40% of FB Financial worth $200,244,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FBK. Avantax Advisory Services Inc. lifted its position in shares of FB Financial by 0.7% during the first quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider's stock worth $1,609,000 after acquiring an additional 253 shares in the last quarter. TBH Global Asset Management LLC lifted its position in shares of FB Financial by 5.3% during the first 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 in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of FB Financial by 7.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock valued at $202,000 after purchasing an additional 290 shares during the period. GAMMA Investing LLC raised its stake in shares of FB Financial by 36.7% during the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 370 shares during the period. Finally, Albert D Mason Inc. raised its stake in shares of FB Financial by 1.7% during the 1st quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock valued at $1,107,000 after purchasing an additional 398 shares during the period. 65.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FBK has been the topic of a number of analyst reports. 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 note on Friday, July 11th. Wall Street Zen lowered 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 has a consensus rating of "Buy" and a consensus price target of $58.25.

FB Financial Price Performance

NYSE FBK traded down $0.1470 during trading on Monday, reaching $53.1830. The company's stock had a trading volume of 204,019 shares, compared to its average volume of 278,893. The stock has a market capitalization of $2.86 billion, a PE ratio of 27.56 and a beta of 0.92. The firm has a fifty day moving average of $47.67 and a 200 day moving average of $46.24. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88.

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

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, August 12th. FB Financial's dividend payout ratio is currently 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.