Allspring Global Investments Holdings LLC Sells 12,846 Shares of FB Financial Corporation (NYSE:FBK)

Allspring Global Investments Holdings LLC decreased its position in FB Financial Corporation (NYSE:FBK) by 5.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,418 shares of the financial services provider’s stock after selling 12,846 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of FB Financial worth $10,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in FB Financial by 810.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 997 shares during the last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 370 shares during the last quarter. LPL Financial LLC bought a new position in shares of FB Financial during the 4th quarter valued at approximately $206,000. Covenant Partners LLC bought a new position in shares of FB Financial during the 4th quarter valued at approximately $211,000. Finally, Blue Trust Inc. bought a new position in shares of FB Financial during the 1st quarter valued at approximately $211,000. Institutional investors own 65.40% of the company’s stock.

Insider Buying and Selling at FB Financial

In related news, Director James W. Iv Cross acquired 7,200 shares of FB Financial stock in a transaction that occurred on Wednesday, April 16th. The shares were purchased at an average price of $40.49 per share, for a total transaction of $291,528.00. Following the completion of the transaction, the director owned 61,278 shares in the company, valued at $2,481,146.22. This represents a 13.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on FBK. Hovde Group raised FB Financial from a “market perform” rating to an “outperform” rating and cut their target price for the company from $60.00 to $59.00 in a research report on Tuesday, April 1st. Piper Sandler cut their target price on FB Financial from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Keefe, Bruyette & Woods cut their price objective on FB Financial from $58.00 to $52.00 and set a “market perform” rating on the stock in a research report on Thursday, April 17th. Stephens lowered their target price on FB Financial from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded FB Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.75.

FB Financial Trading Up 1.1%

Shares of FBK opened at $47.53 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of 17.47 and a beta of 0.91. The stock’s 50 day moving average is $44.27 and its two-hundred day moving average is $47.10. FB Financial Corporation has a 12 month low of $38.00 and a 12 month high of $58.88.

FB Financial (NYSE:FBK) last released its earnings results on Monday, April 14th. The financial services provider reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. The business had revenue of $130.67 million for the quarter, compared to the consensus estimate of $132.28 million. FB Financial had a return on equity of 10.24% and a net margin of 16.27%. During the same quarter last year, the business posted $0.85 earnings per share. Equities research analysts forecast that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.76 annualized dividend and a dividend yield of 1.60%. FB Financial’s dividend payout ratio (DPR) is presently 27.94%.

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.