Intech Investment Management LLC Has $708,000 Holdings in FB Financial Corporation $FBK

Intech Investment Management LLC trimmed its position in shares of FB Financial Corporation (NYSE:FBK) by 26.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,635 shares of the financial services provider’s stock after selling 5,612 shares during the quarter. Intech Investment Management LLC’s holdings in FB Financial were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of FB Financial in the first quarter valued at approximately $33,000. CWM LLC increased its holdings in FB Financial by 58.2% during the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 611 shares in the last quarter. Savant Capital LLC bought a new position in FB Financial in the 2nd quarter valued at $214,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in FB Financial in the 1st quarter valued at $218,000. Finally, Ieq Capital LLC acquired a new position in FB Financial in the first quarter worth $245,000. Institutional investors and hedge funds own 65.40% of the company’s stock.

FB Financial Stock Down 0.4%

FB Financial stock opened at $56.17 on Thursday. The business’s 50-day simple moving average is $55.13 and its 200 day simple moving average is $50.39. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 26.25 and a beta of 0.97. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $60.51.

FB Financial (NYSE:FBK) last released its earnings results on Tuesday, February 15th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter. The company had revenue of $163.71 million for the quarter. FB Financial had a net margin of 11.73% and a return on equity of 10.56%. As a group, sell-side analysts expect that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 11th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, November 10th. FB Financial’s dividend payout ratio is currently 35.51%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FBK. Cantor Fitzgerald restated an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of FB Financial in a research note on Thursday, October 16th. Wall Street Zen raised shares of FB Financial from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Piper Sandler raised their price objective on shares of FB Financial from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of FB Financial in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, FB Financial has a consensus rating of “Moderate Buy” and an average price target of $60.80.

FB Financial Profile

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.