Brandywine Global Investment Management LLC Cuts Holdings in FB Financial Co. (NYSE:FBK)

Brandywine Global Investment Management LLC reduced its position in FB Financial Co. (NYSE:FBK) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,715 shares of the financial services provider’s stock after selling 5,107 shares during the period. Brandywine Global Investment Management LLC owned 0.23% of FB Financial worth $5,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA purchased a new stake in shares of FB Financial during the 4th quarter worth approximately $277,000. JPMorgan Chase & Co. raised its stake in FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock valued at $13,544,000 after purchasing an additional 196,172 shares in the last quarter. LPL Financial LLC bought a new position in FB Financial during the fourth quarter valued at $206,000. KLP Kapitalforvaltning AS purchased a new position in shares of FB Financial in the 4th quarter worth $414,000. Finally, Summit Global Investments bought a new stake in shares of FB Financial in the 4th quarter worth about $970,000. 65.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FBK. Piper Sandler upgraded FB Financial from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a research report on Tuesday, March 11th. StockNews.com upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Hovde Group upgraded FB Financial from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $60.00 to $59.00 in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of FB Financial from $50.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.40.

FB Financial Stock Down 0.5 %

FBK opened at $46.13 on Wednesday. The business has a fifty day moving average of $49.81 and a 200 day moving average of $50.84. FB Financial Co. has a 52-week low of $33.35 and a 52-week high of $58.88. The stock has a market cap of $2.15 billion, a P/E ratio of 18.68 and a beta of 1.16.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Tuesday, January 21st. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. FB Financial had a net margin of 15.18% and a return on equity of 10.43%. Equities analysts anticipate that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 11th. This is an increase from FB Financial’s previous quarterly dividend of $0.17. FB Financial’s payout ratio is currently 30.77%.

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers bought 2,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average cost of $50.26 per share, with a total value of $100,520.00. Following the transaction, the insider now directly owns 10,915,841 shares in the company, valued at approximately $548,630,168.66. This trade represents a 0.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders bought 14,000 shares of company stock worth $710,180. Company insiders own 1.70% of the company’s stock.

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.