FB Financial Corporation (NYSE:FBK) Stock Position Lowered by TD Asset Management Inc

Key Points

• TD Asset Management Inc has decreased its holdings in FB Financial Corporation by 9.7%, owning 51,440 shares after selling 5,556 shares in the 1st quarter.
• FB Financial's recent earnings report showed an EPS of $0.88, missing the consensus estimate, with revenue significantly below expectations at $76.86 million.
• Several analysts have altered their ratings on FB Financial, with one downgrade to "sell" and upgrades leading to a consensus rating of "Moderate Buy" with a price target of $58.25.

TD Asset Management Inc decreased its holdings in FB Financial Corporation (NYSE:FBK - Free Report) by 9.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,440 shares of the financial services provider's stock after selling 5,556 shares during the quarter. TD Asset Management Inc owned about 0.11% of FB Financial worth $2,385,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Avantax Advisory Services Inc. boosted its holdings in shares of FB Financial by 0.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider's stock worth $1,609,000 after purchasing an additional 253 shares during the last quarter. Wakefield Asset Management LLLP boosted its holdings in shares of FB Financial by 7.4% during the 1st quarter. Wakefield Asset Management LLLP now owns 26,514 shares of the financial services provider's stock worth $1,229,000 after purchasing an additional 1,817 shares during the last quarter. Homestead Advisers Corp boosted its holdings in shares of FB Financial by 4.6% during the 1st quarter. Homestead Advisers Corp now owns 144,559 shares of the financial services provider's stock worth $6,702,000 after purchasing an additional 6,300 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of FB Financial during the 1st quarter worth approximately $218,000. Finally, Allianz Asset Management GmbH acquired a new position in shares of FB Financial during the 1st quarter worth approximately $311,000. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Price Performance

FBK stock traded down $0.37 during midday trading on Wednesday, hitting $48.00. The stock had a trading volume of 79,058 shares, compared to its average volume of 263,475. The firm has a market cap of $2.20 billion, a PE ratio of 24.89 and a beta of 0.92. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The company's 50-day moving average price is $46.04 and its 200 day moving average price is $46.57.

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

FB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.6%. FB Financial's payout ratio is presently 39.38%.

Analyst Ratings Changes

A number of research firms recently commented on FBK. Piper Sandler decreased their price objective on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $52.00 to $58.00 in a report on Friday, July 11th. Finally, Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, FB Financial presently has an average rating of "Moderate Buy" and a consensus price target of $58.25.

FB Financial 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.