Inspire Investing LLC Cuts Stock Holdings in FB Financial Co. (NYSE:FBK)

Inspire Investing LLC cut its position in shares of FB Financial Co. (NYSE:FBK) by 3.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,796 shares of the financial services provider’s stock after selling 288 shares during the period. Inspire Investing LLC’s holdings in FB Financial were worth $413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of FB Financial during the 1st quarter worth about $165,000. Renaissance Technologies LLC acquired a new stake in FB Financial in the second quarter valued at approximately $217,000. ProShare Advisors LLC grew its holdings in FB Financial by 7.4% in the first quarter. ProShare Advisors LLC now owns 7,148 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 494 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of FB Financial by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 7,345 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,067 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of FB Financial by 16.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,146 shares of the financial services provider’s stock worth $383,000 after buying an additional 1,424 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Trading Up 5.7 %

FBK stock opened at $50.63 on Thursday. The firm has a 50-day moving average of $46.18 and a two-hundred day moving average of $41.45. FB Financial Co. has a 12 month low of $27.61 and a 12 month high of $51.40. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 21.27 and a beta of 1.13.

FB Financial (NYSE:FBK) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $169.13 million for the quarter, compared to the consensus estimate of $127.44 million. FB Financial had a return on equity of 10.24% and a net margin of 15.34%. During the same quarter last year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Tuesday, August 6th. FB Financial’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stephens reissued an “overweight” rating and issued a $45.00 price target on shares of FB Financial in a report on Tuesday, July 16th. Piper Sandler cut shares of FB Financial from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $41.00 to $46.00 in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods upped their price target on shares of FB Financial from $48.00 to $50.00 and gave the stock a “market perform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on FB Financial from $43.00 to $42.00 and set an “underweight” rating for the company in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.17.

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.