Ensign Peak Advisors Inc Reduces Holdings in FB Financial Corporation $FBK

Ensign Peak Advisors Inc decreased its stake in shares of FB Financial Corporation (NYSE:FBK) by 18.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,963 shares of the financial services provider’s stock after selling 4,550 shares during the period. Ensign Peak Advisors Inc’s holdings in FB Financial were worth $904,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FBK. Nuveen LLC bought a new stake in FB Financial during the 1st quarter valued at approximately $39,275,000. Millennium Management LLC lifted its stake in shares of FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after purchasing an additional 37,385 shares during the period. Penn Capital Management Company LLC boosted its position in shares of FB Financial by 8.2% during the first quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider’s stock valued at $12,861,000 after purchasing an additional 21,026 shares in the last quarter. Invesco Ltd. boosted its position in shares of FB Financial by 93.9% during the first quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider’s stock valued at $9,463,000 after purchasing an additional 98,843 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in FB Financial by 0.3% in the first quarter. Raymond James Financial Inc. now owns 185,937 shares of the financial services provider’s stock worth $8,620,000 after purchasing an additional 606 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Stock Performance

NYSE:FBK opened at $55.86 on Friday. The firm has a market cap of $2.99 billion, a P/E ratio of 26.10 and a beta of 0.97. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $60.51. The firm has a 50-day simple moving average of $55.21 and a two-hundred day simple moving average of $50.53.

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. The firm had revenue of $163.71 million for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. On average, equities research analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, November 10th. FB Financial’s dividend payout ratio (DPR) is currently 35.51%.

Analyst Ratings Changes

Several brokerages have commented on FBK. Cantor Fitzgerald reissued an “overweight” rating and set a $66.00 price objective (up previously from $61.00) on shares of FB Financial in a research report on Thursday, October 16th. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reissued a “hold (c)” rating on shares of FB Financial in a research note on Wednesday, October 8th. Finally, Piper Sandler raised their target price on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.80.

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.