ProShare Advisors LLC Decreases Stock Position in FB Financial Co. (NYSE:FBK)

ProShare Advisors LLC lessened its position in shares of FB Financial Co. (NYSE:FBK) by 23.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,460 shares of the financial services provider’s stock after selling 1,688 shares during the period. ProShare Advisors LLC’s holdings in FB Financial were worth $213,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in FB Financial during the first quarter worth about $165,000. Renaissance Technologies LLC bought a new position in FB Financial in the 2nd quarter worth approximately $217,000. B. Riley Wealth Advisors Inc. grew its stake in FB Financial by 17.0% in the 1st 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. Price T Rowe Associates Inc. MD raised its holdings in 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 valued at $383,000 after acquiring an additional 1,424 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of FB Financial by 7.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 10,141 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 722 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

FB Financial Trading Up 3.0 %

Shares of NYSE FBK opened at $46.29 on Friday. The business has a 50-day moving average of $45.80 and a 200-day moving average of $40.88. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.45 and a beta of 1.13. FB Financial Co. has a 12 month low of $27.61 and a 12 month high of $49.97.

FB Financial (NYSE:FBK) last released its quarterly earnings results on Monday, July 15th. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $128.22 million during the quarter, compared to analysts’ expectations of $123.52 million. FB Financial had a net margin of 15.34% and a return on equity of 10.24%. On average, analysts predict that FB Financial Co. will post 3.25 earnings per share for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Tuesday, August 6th were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.68 dividend on an annualized basis and a yield of 1.47%. FB Financial’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

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

FB Financial 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.