SG Americas Securities LLC Cuts Stock Holdings in FB Financial Corporation (NYSE:FBK)

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

A number of other large investors have also added to or reduced their stakes in FBK. Sterling Capital Management LLC raised its position in FB Financial by 810.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 997 shares during the period. GAMMA Investing LLC raised its holdings in 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 buying an additional 370 shares during the period. LPL Financial LLC bought a new stake in FB Financial in the fourth quarter worth $206,000. Covenant Partners LLC purchased a new position in FB Financial during the fourth quarter worth $211,000. Finally, Point72 Asset Management L.P. increased its position in FB Financial by 320.0% during the fourth quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider's stock valued at $216,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors own 65.40% of the company's stock.

Insider Transactions at FB Financial

In other FB Financial news, Director James W. Iv Cross purchased 7,200 shares of FB Financial stock in a transaction on Wednesday, April 16th. The stock was bought at an average cost of $40.49 per share, with a total value of $291,528.00. Following the transaction, the director now owns 61,278 shares of the company's stock, valued at $2,481,146.22. This represents a 13.31% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

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

FB Financial Price Performance

Shares of NYSE:FBK traded up $0.26 during trading on Friday, reaching $45.53. 350,499 shares of the company were exchanged, compared to its average volume of 200,904. The business's fifty day simple moving average is $43.74 and its 200-day simple moving average is $47.42. The firm has a market capitalization of $2.09 billion, a PE ratio of 16.74 and a beta of 0.91. FB Financial Corporation has a 12-month low of $37.99 and a 12-month high of $58.88.

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

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.67%. FB Financial's dividend payout ratio is presently 27.94%.

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.