Waverly Advisors LLC Sells 10,037 Shares of FB Financial Corporation $FBK

Waverly Advisors LLC trimmed its position in FB Financial Corporation (NYSE:FBK) by 19.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,950 shares of the financial services provider’s stock after selling 10,037 shares during the quarter. Waverly Advisors LLC owned about 0.08% of FB Financial worth $2,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of FB Financial by 23.8% in the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after purchasing an additional 11,414 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FB Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 930 shares during the period. Millennium Management LLC lifted its stake in shares of FB Financial by 11.8% during the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider’s stock valued at $16,419,000 after buying an additional 37,385 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of FB Financial during the 1st quarter valued at $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in FB Financial by 39.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock worth $3,715,000 after buying an additional 22,662 shares during the period. Institutional investors own 65.40% of the company’s stock.

Wall Street Analyst Weigh In

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

FB Financial Stock Performance

Shares of NYSE:FBK opened at $54.80 on Friday. The firm has a fifty day moving average price of $58.64 and a 200 day moving average price of $55.31. FB Financial Corporation has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 14.69 and a beta of 0.92.

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

FB Financial Announces Dividend

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

About FB Financial

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.