Maltese Capital Management LLC Cuts Position in FB Financial Corporation (FBK)

Maltese Capital Management LLC trimmed its holdings in shares of FB Financial Corporation (NYSE:FBK) by 61.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,735 shares of the financial services provider’s stock after selling 275,265 shares during the quarter. Maltese Capital Management LLC owned approximately 0.57% of FB Financial worth $6,591,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System grew its holdings in FB Financial by 77.4% in the third quarter. California State Teachers Retirement System now owns 20,756 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 9,056 shares during the last quarter. CapWealth Advisors LLC grew its holdings in FB Financial by 24.0% in the third quarter. CapWealth Advisors LLC now owns 255,167 shares of the financial services provider’s stock worth $9,625,000 after purchasing an additional 49,419 shares during the last quarter. Elk Creek Partners LLC grew its holdings in FB Financial by 8.8% in the third quarter. Elk Creek Partners LLC now owns 221,930 shares of the financial services provider’s stock worth $8,371,000 after purchasing an additional 18,040 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in FB Financial by 132.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 51,006 shares of the financial services provider’s stock worth $1,924,000 after purchasing an additional 29,040 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in FB Financial by 6.5% in the third quarter. Wells Fargo & Company MN now owns 75,923 shares of the financial services provider’s stock worth $2,864,000 after purchasing an additional 4,633 shares during the last quarter. 35.34% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on FBK shares. ValuEngine raised shares of FB Financial from a “hold” rating to a “buy” rating in a report on Monday, September 18th. Sandler O’Neill raised shares of FB Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Tuesday, August 15th. UBS boosted their price objective on shares of FB Financial from $41.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $42.00 price objective on shares of FB Financial in a report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of FB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.33.

FB Financial Corporation (NYSE FBK) traded up $0.50 during midday trading on Friday, reaching $42.98. 71,100 shares of the company were exchanged, compared to its average volume of 75,968. The firm has a market capitalization of $1,296.79, a P/E ratio of 21.90 and a beta of 2.19. FB Financial Corporation has a 52 week low of $23.30 and a 52 week high of $44.08. The company has a quick ratio of 0.83, a current ratio of 0.95 and a debt-to-equity ratio of 0.25.

FB Financial (NYSE:FBK) last posted its earnings results on Monday, October 23rd. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.13. The company had revenue of $81.43 million during the quarter, compared to the consensus estimate of $76.35 million. FB Financial had a net margin of 13.61% and a return on equity of 11.90%. equities analysts predict that FB Financial Corporation will post 2.05 earnings per share for the current year.

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FB Financial Company Profile

FB Financial Corporation is the holding company for FirstBank (the Bank). The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Bank provides a suite of commercial and consumer banking services to clients in select markets in Tennessee, North Alabama and North Georgia.

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Institutional Ownership by Quarter for FB Financial (NYSE:FBK)

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