TD Asset Management Inc Sells 5,556 Shares of FB Financial Corporation (NYSE:FBK)

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 shares of FB Financial Corporation (NYSE:FBK - Free Report) by 9.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,440 shares of the financial services provider's stock after selling 5,556 shares during the period. TD Asset Management Inc owned approximately 0.11% of FB Financial worth $2,385,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in FB Financial by 15.3% during the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider's stock valued at $21,886,000 after purchasing an additional 56,474 shares during the period. Bridgeway Capital Management LLC lifted its position in FB Financial by 1.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 394,155 shares of the financial services provider's stock valued at $20,303,000 after acquiring an additional 7,037 shares in the last quarter. Federated Hermes Inc. raised its stake in FB Financial by 3.0% during the 4th quarter. Federated Hermes Inc. now owns 339,938 shares of the financial services provider's stock valued at $17,510,000 after buying an additional 9,995 shares during the last quarter. Millennium Management LLC raised its stake in FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock valued at $16,317,000 after buying an additional 47,761 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of FB Financial by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after purchasing an additional 3,492 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Finally, Piper Sandler reduced their target price on shares of 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 and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.25.

FB Financial Stock Performance

Shares of NYSE:FBK opened at $47.53 on Friday. The firm has a market cap of $2.18 billion, a PE ratio of 24.63 and a beta of 0.92. The firm's 50 day simple moving average is $45.87 and its 200-day simple moving average is $46.63. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $76.86 million for the quarter, compared to analysts' expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. Equities research analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, August 12th. FB Financial's dividend payout ratio (DPR) is presently 39.38%.

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.

Want to see what other hedge funds are holding FBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FB Financial Corporation (NYSE:FBK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.