Lbmc Investment Advisors LLC Invests $254,000 in FB Financial Corporation $FBK

Key Points

• Lbmc Investment Advisors LLC purchased 5,600 shares of FB Financial Corporation for approximately $254,000 in the second quarter, indicating growing interest from institutional investors.
• FB Financial's stock opened at $52.37, and the company reported earnings of $0.88 per share for the last quarter, missing estimates slightly.
• The financial services provider recently announced a quarterly dividend of $0.19, contributing to an annualized yield of 1.5% with a payout ratio of 39.38%.

Lbmc Investment Advisors LLC acquired a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,600 shares of the financial services provider's stock, valued at approximately $254,000.

Several other institutional investors have also recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of FB Financial in the 1st quarter worth $39,275,000. Millennium Management LLC grew its stake in shares of FB Financial by 11.8% in the 1st quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider's stock worth $16,419,000 after acquiring an additional 37,385 shares in the last quarter. Penn Capital Management Company LLC boosted its holdings in shares of FB Financial by 8.2% in the 1st quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider's stock worth $12,861,000 after buying an additional 21,026 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of FB Financial by 29.0% in the 4th quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider's stock worth $13,383,000 after buying an additional 58,402 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of FB Financial by 93.9% in the 1st quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider's stock worth $9,463,000 after buying an additional 98,843 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Stock Performance

Shares of NYSE FBK traded down $0.43 during mid-day trading on Friday, hitting $53.86. The stock had a trading volume of 1,495,418 shares, compared to its average volume of 271,676. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88. The business has a 50 day moving average price of $50.85 and a two-hundred day moving average price of $46.63. The firm has a market cap of $2.90 billion, a P/E ratio of 27.91 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last issued its earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.01). FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The firm had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. Equities research analysts predict that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a yield of 1.4%. FB Financial's dividend payout ratio (DPR) is currently 39.38%.

Analyst Upgrades and Downgrades

FBK has been the topic of several analyst reports. Cantor Fitzgerald assumed coverage on FB Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $61.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of FB Financial from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Finally, Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $58.80.

FB Financial Company 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.