SG Americas Securities LLC Trims Stake in FB Financial Corporation (NYSE:FBK)

SG Americas Securities LLC reduced its holdings in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 50.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,776 shares of the financial services provider's stock after selling 10,074 shares during the period. SG Americas Securities LLC's holdings in FB Financial were worth $453,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of FB Financial by 6,237.7% in the 1st 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 in the last quarter. Intech Investment Management LLC lifted its position in shares of FB Financial by 136.2% during the 4th quarter. Intech Investment Management LLC now owns 16,595 shares of the financial services provider's stock valued at $855,000 after buying an additional 9,570 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of FB Financial by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock valued at $14,136,000 after acquiring an additional 3,492 shares during the period. Summit Global Investments bought a new stake in FB Financial during the 4th quarter worth approximately $970,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in FB Financial by 4.1% during 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 purchasing an additional 790 shares in the last quarter. 65.40% of the stock is currently owned by institutional investors.

Insider Activity at FB Financial

In related news, Director James W. Iv Cross acquired 7,200 shares of the stock in a transaction dated Wednesday, April 16th. The stock was acquired at an average cost of $40.49 per share, with a total value of $291,528.00. Following the purchase, the director now directly owns 61,278 shares of the company's stock, valued at approximately $2,481,146.22. This trade represents a 13.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and dropped their target price for the stock from $60.00 to $59.00 in a report on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price objective on FB Financial from $58.00 to $52.00 and set a "market perform" rating on the stock in a research report on Thursday, April 17th. Stephens cut their target price on FB Financial from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Piper Sandler dropped their price target on FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.80.

FB Financial Price Performance

Shares of FB Financial stock traded down $0.31 during trading on Wednesday, reaching $44.46. 198,575 shares of the stock traded hands, compared to its average volume of 181,378. FB Financial Corporation has a 52-week low of $36.26 and a 52-week high of $58.88. The business has a fifty day simple moving average of $43.65 and a two-hundred day simple moving average of $47.49. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 16.35 and a beta of 0.91.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $130.67 million during the quarter, compared to analysts' expectations of $132.28 million. FB Financial had a return on equity of 10.24% and a net margin of 16.27%. During the same quarter last year, the business posted $0.85 EPS. On average, research analysts predict that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.71%. The ex-dividend date was Tuesday, May 13th. FB Financial's dividend payout ratio is presently 27.94%.

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.