Brookstone Capital Management Sells 1,350 Shares of FB Financial Co. (NYSE:FBK)

Brookstone Capital Management decreased its holdings in shares of FB Financial Co. (NYSE:FBK) by 18.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,906 shares of the financial services provider’s stock after selling 1,350 shares during the period. Brookstone Capital Management’s holdings in FB Financial were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Deutsche Bank AG raised its stake in FB Financial by 15.6% during the 3rd quarter. Deutsche Bank AG now owns 17,936 shares of the financial services provider’s stock worth $509,000 after buying an additional 2,421 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of FB Financial by 17.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,007 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 449 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of FB Financial by 95.7% in the third quarter. Envestnet Asset Management Inc. now owns 197,881 shares of the financial services provider’s stock valued at $5,612,000 after purchasing an additional 96,743 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of FB Financial in the third quarter valued at approximately $206,000. Finally, Mariner LLC lifted its holdings in shares of FB Financial by 1.6% in the third quarter. Mariner LLC now owns 20,087 shares of the financial services provider’s stock valued at $570,000 after purchasing an additional 323 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of NYSE FBK opened at $39.11 on Wednesday. The stock has a market cap of $1.84 billion, a PE ratio of 16.43 and a beta of 1.14. FB Financial Co. has a fifty-two week low of $26.71 and a fifty-two week high of $41.00. The stock has a fifty day moving average of $37.46 and a 200-day moving average of $37.20.

FB Financial (NYSE:FBK) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.15. The company had revenue of $107.45 million during the quarter, compared to analysts’ expectations of $119.84 million. FB Financial had a return on equity of 10.20% and a net margin of 14.90%. On average, sell-side analysts predict that FB Financial Co. will post 3.12 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Tuesday, May 14th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, May 13th. FB Financial’s payout ratio is 28.57%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FBK shares. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and raised their target price for the company from $38.00 to $41.00 in a report on Tuesday, April 16th. Stephens upgraded FB Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $39.00 to $45.00 in a report on Thursday, May 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $38.00 price target on shares of FB Financial in a report on Wednesday, April 17th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $40.50 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.86.

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.