FB Financial Corporation (NYSE:FBK) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 20.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,435 shares of the financial services provider's stock after selling 5,093 shares during the quarter. Teacher Retirement System of Texas' holdings in FB Financial were worth $947,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FBK. Sterling Capital Management LLC boosted its position in FB Financial by 810.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after acquiring an additional 997 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after acquiring an additional 370 shares in the last quarter. LPL Financial LLC purchased a new stake in FB Financial during the 4th quarter valued at about $206,000. Covenant Partners LLC purchased a new stake in shares of FB Financial during the fourth quarter valued at approximately $211,000. Finally, Point72 Asset Management L.P. raised its position in FB Financial by 320.0% during the 4th quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider's stock valued at $216,000 after purchasing an additional 3,200 shares during the last quarter. 65.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FBK. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Stephens dropped their price objective on FB Financial from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Hovde Group raised shares of FB Financial from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler lowered their price target 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, Wall Street Zen raised FB Financial from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $58.25.

FB Financial Stock Up 1.7%

Shares of NYSE FBK traded up $0.82 during midday trading on Wednesday, reaching $47.78. The company had a trading volume of 212,566 shares, compared to its average volume of 203,391. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88. The stock has a market cap of $2.19 billion, a PE ratio of 24.76 and a beta of 0.91. The firm's fifty day moving average price is $44.92 and its 200-day moving average price is $46.81.

FB Financial (NYSE:FBK - Get Free Report) last announced 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). FB Financial had a return on equity of 10.20% and a net margin of 11.46%. The firm had revenue of $76.86 million during the quarter, compared to the consensus estimate of $136.32 million. As a group, equities research analysts expect that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders 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 dividend on an annualized basis and a yield of 1.59%. FB Financial's dividend payout ratio (DPR) is presently 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.