Wellington Management Group LLP Reduces Stake in FB Financial Corporation $FBK

Wellington Management Group LLP cut its position in shares of FB Financial Corporation (NYSE:FBK) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,069,173 shares of the financial services provider’s stock after selling 59,927 shares during the quarter. Wellington Management Group LLP’s holdings in FB Financial were worth $59,179,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Simplicity Wealth LLC raised its stake in shares of FB Financial by 1.2% during the 1st quarter. Simplicity Wealth LLC now owns 16,197 shares of the financial services provider’s stock worth $841,000 after buying an additional 190 shares during the last quarter. ProShare Advisors LLC grew its stake in FB Financial by 2.8% in the 4th quarter. ProShare Advisors LLC now owns 8,038 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 216 shares during the last quarter. Inspire Investing LLC grew its stake in FB Financial by 2.7% in the 4th quarter. Inspire Investing LLC now owns 8,368 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 219 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in FB Financial by 1.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 20,048 shares of the financial services provider’s stock valued at $1,041,000 after acquiring an additional 235 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in FB Financial by 4.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,613 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 299 shares in the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FBK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Raymond James Financial raised their price objective on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 1st. Benchmark lifted their price objective on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat.com, FB Financial currently has an average rating of “Buy” and a consensus target price of $64.67.

FB Financial Trading Up 1.2%

FB Financial stock opened at $56.92 on Friday. The stock has a 50-day moving average price of $58.65 and a 200 day moving average price of $55.41. FB Financial Corporation has a 52 week low of $49.24 and a 52 week high of $62.65. The stock has a market cap of $2.84 billion, a PE ratio of 15.26 and a beta of 0.92.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 13th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The company had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. On average, equities analysts predict that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Investors of record on Tuesday, August 11th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.5%. FB Financial’s dividend payout ratio is presently 22.52%.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.