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

Several other institutional investors also recently modified their holdings of the business. Sterling Capital Management LLC increased its stake in shares of 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 in the last quarter. GAMMA Investing LLC raised its stake in FB Financial by 36.7% during the first 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 last quarter. CWM LLC boosted its holdings in FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after acquiring an additional 611 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock worth $202,000 after acquiring an additional 290 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of FB Financial during the fourth quarter valued at $206,000. 65.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

FB Financial Stock Performance

Shares of NYSE FBK traded up $1.03 during midday trading on Friday, hitting $49.12. 593,327 shares of the stock traded hands, compared to its average volume of 565,422. The firm has a market capitalization of $2.25 billion, a P/E ratio of 25.45 and a beta of 0.91. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88. The firm has a 50-day moving average of $45.42 and a two-hundred day moving average of $46.68.

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 (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%. The firm 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 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 issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.55%. 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.