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

Waverly Advisors LLC cut its holdings in FB Financial Corporation (NYSE:FBK) by 19.7% in the second quarter, according to the company in its most recent disclosure with the SEC. 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’s holdings in FB Financial were worth $2,267,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FBK. AQR Capital Management LLC grew its stake in shares of FB Financial by 23.8% in the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock worth $2,752,000 after buying an additional 11,414 shares in the last quarter. 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 buying an additional 930 shares in the last quarter. Millennium Management LLC raised its position 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 bought a new position in shares of FB Financial in the 1st quarter valued at about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 valued at $3,715,000 after acquiring an additional 22,662 shares during the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

FB Financial Stock Performance

Shares of FBK stock opened at $54.80 on Friday. The stock has a 50 day moving average price of $58.64 and a 200 day moving average price of $55.31. FB Financial Corporation has a 52-week low of $49.24 and a 52-week high of $62.65. The firm has a market capitalization of $2.74 billion, a P/E ratio of 14.69 and a beta of 0.92.

FB Financial (NYSE:FBK) last posted its quarterly earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $177.45 million. As a group, sell-side analysts forecast that FB Financial Corporation will post 4.67 EPS for the current year.

FB Financial Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.