FB Financial Corporation $FBK Shares Sold by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lowered its position in FB Financial Corporation (NYSE:FBK) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,670 shares of the financial services provider’s stock after selling 220 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in FB Financial were worth $302,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its holdings in FB Financial by 36.7% during the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. acquired a new stake in shares of FB Financial in the first quarter valued at approximately $211,000. Illinois Municipal Retirement Fund increased its stake in shares of FB Financial by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 19,414 shares of the financial services provider’s stock worth $900,000 after purchasing an additional 623 shares in the last quarter. TBH Global Asset Management LLC raised its position in shares of FB Financial by 5.3% during the 1st quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 290 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in FB Financial by 6.4% in the 1st quarter. Peregrine Capital Management LLC now owns 130,119 shares of the financial services provider’s stock valued at $6,032,000 after buying an additional 7,772 shares in the last quarter. 65.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FBK shares. Piper Sandler raised their price target on FB Financial from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $66.00 target price (up previously from $61.00) on shares of FB Financial in a research note on Thursday. Keefe, Bruyette & Woods raised shares of FB Financial from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen upgraded shares of FB Financial from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.80.

FB Financial Trading Up 0.2%

FB Financial stock opened at $52.15 on Friday. The stock has a fifty day moving average price of $53.94 and a 200 day moving average price of $47.92. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $60.51. The firm has a market capitalization of $2.81 billion, a P/E ratio of 24.37 and a beta of 0.91.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, February 15th. The financial services provider reported $1.14 EPS for the quarter. FB Financial had a return on equity of 10.56% and a net margin of 11.73%.The company had revenue of $163.71 million during the quarter. As a group, equities analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.5%. FB Financial’s dividend payout ratio (DPR) is currently 35.51%.

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.