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

Brandywine Global Investment Management LLC lowered its stake in shares of FB Financial Co. (NYSE:FBK) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,715 shares of the financial services provider’s stock after selling 5,107 shares during the period. Brandywine Global Investment Management LLC’s holdings in FB Financial were worth $5,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of FB Financial by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 815,361 shares of the financial services provider’s stock worth $38,272,000 after buying an additional 7,021 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in FB Financial by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 376,288 shares of the financial services provider’s stock worth $19,383,000 after purchasing an additional 2,943 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of FB Financial by 293.8% during the fourth quarter. JPMorgan Chase & Co. now owns 262,947 shares of the financial services provider’s stock worth $13,544,000 after purchasing an additional 196,172 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of FB Financial by 1.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 234,264 shares of the financial services provider’s stock valued at $12,067,000 after purchasing an additional 4,435 shares during the last quarter. Finally, 12th Street Asset Management Company LLC boosted its position in shares of FB Financial by 65.2% in the 4th quarter. 12th Street Asset Management Company LLC now owns 197,300 shares of the financial services provider’s stock worth $10,163,000 after purchasing an additional 77,885 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at FB Financial

In other news, major shareholder James W. Ayers purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were bought at an average price of $51.40 per share, for a total transaction of $102,800.00. Following the completion of the transaction, the insider now owns 10,913,841 shares in the company, valued at $560,971,427.40. This represents a 0.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 14,000 shares of company stock worth $710,180. 1.70% of the stock is owned by corporate insiders.

FB Financial Trading Down 0.5 %

FBK opened at $46.13 on Wednesday. The firm has a 50 day moving average of $49.81 and a two-hundred day moving average of $50.84. The firm has a market capitalization of $2.15 billion, a PE ratio of 18.68 and a beta of 1.16. FB Financial Co. has a 12-month low of $33.35 and a 12-month high of $58.88.

FB Financial (NYSE:FBK) last posted its earnings results on Tuesday, January 21st. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts predict that FB Financial Co. will post 3.64 EPS for the current fiscal year.

FB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 11th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.65%. This is a positive change from FB Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, February 11th. FB Financial’s dividend payout ratio (DPR) is 30.77%.

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.