Maryland State Retirement & Pension System Has $480,000 Stock Holdings in FB Financial Co. (NYSE:FBK)

Maryland State Retirement & Pension System trimmed its holdings in shares of FB Financial Co. (NYSE:FBK) by 3.8% in the second quarter, Holdings Channel.com reports. The fund owned 12,287 shares of the financial services provider’s stock after selling 482 shares during the quarter. Maryland State Retirement & Pension System’s holdings in FB Financial were worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in FB Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 2,464,295 shares of the financial services provider’s stock worth $92,805,000 after acquiring an additional 9,694 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of FB Financial by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,759,024 shares of the financial services provider’s stock valued at $70,099,000 after purchasing an additional 40,394 shares in the last quarter. Wasatch Advisors LP raised its position in FB Financial by 13.1% in the 1st quarter. Wasatch Advisors LP now owns 1,199,457 shares of the financial services provider’s stock worth $45,172,000 after purchasing an additional 139,395 shares during the last quarter. Janus Henderson Group PLC raised its position in FB Financial by 3.0% in the 1st quarter. Janus Henderson Group PLC now owns 1,136,818 shares of the financial services provider’s stock worth $42,812,000 after purchasing an additional 33,310 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in FB Financial by 22.0% during the 1st quarter. Heartland Advisors Inc. now owns 318,622 shares of the financial services provider’s stock worth $11,999,000 after buying an additional 57,355 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Down 1.2 %

FB Financial stock opened at $47.62 on Wednesday. The firm has a market capitalization of $2.24 billion, a P/E ratio of 20.01 and a beta of 1.14. The business has a 50-day moving average of $43.80 and a 200-day moving average of $39.17. FB Financial Co. has a 1 year low of $27.42 and a 1 year high of $48.80.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, July 15th. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. The company had revenue of $128.22 million for the quarter, compared to analyst estimates of $123.52 million. Research analysts anticipate that FB Financial Co. will post 3.25 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 annualized dividend and a yield of 1.43%. FB Financial’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FBK shares. Stephens restated an “overweight” rating and set a $45.00 target price on shares of FB Financial in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods boosted their price objective on FB Financial from $40.00 to $45.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. reduced their target price on shares of FB Financial from $43.00 to $42.00 and set an “underweight” rating on the stock in a research note on Thursday, June 27th. Finally, Piper Sandler downgraded shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

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.