Heartland Advisors Inc. Has $13.16 Million Stake in FB Financial Corporation (NYSE:FBK)

Key Points

• Heartland Advisors Inc. reduced its stake in FB Financial Corporation by 8.8%, holding 283,855 shares worth $13.16 million after selling 27,560 shares in the first quarter.
• FB Financial recently reported a missed earnings expectation, with an EPS of $0.88 compared to the consensus estimate of $0.89, and revenue of $76.86 million versus expectations of $136.32 million.
• Analysts have varied opinions on FB Financial, with an average rating of "Moderate Buy" and an average target price of $58.25, while several institutions have made significant adjustments to their holdings.

Heartland Advisors Inc. reduced its holdings in FB Financial Corporation (NYSE:FBK - Free Report) by 8.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,855 shares of the financial services provider's stock after selling 27,560 shares during the quarter. Heartland Advisors Inc. owned 0.61% of FB Financial worth $13,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its holdings in shares of FB Financial by 1.6% in the fourth quarter. Teacher Retirement System of Texas now owns 25,528 shares of the financial services provider's stock valued at $1,315,000 after buying an additional 412 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of FB Financial during the 4th quarter worth $414,000. LPL Financial LLC acquired a new position in shares of FB Financial in the 4th quarter worth $206,000. JPMorgan Chase & Co. raised its position in shares of FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider's stock worth $13,544,000 after purchasing an additional 196,172 shares during the period. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of FB Financial during the fourth quarter valued at $277,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Trading Up 0.2%

NYSE FBK traded up $0.10 during trading on Tuesday, reaching $49.61. 100,071 shares of the company's stock were exchanged, compared to its average volume of 255,707. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The company's fifty day simple moving average is $45.49 and its 200-day simple moving average is $46.66. The firm has a market capitalization of $2.27 billion, a PE ratio of 25.70 and a beta of 0.91.

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

FB Financial Announces Dividend

The business 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial's dividend payout ratio (DPR) is currently 39.38%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FBK shares. Hovde Group raised FB Financial from a "market perform" rating to an "outperform" rating and dropped their price target for the stock from $60.00 to $59.00 in a research note on Tuesday, April 1st. Stephens dropped their target price on shares of FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and upped their price target for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Piper Sandler decreased their price objective on shares of FB Financial from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $58.25.

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.