5,600 Shares in FB Financial Corporation $FBK Bought by Lbmc Investment Advisors LLC

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 bought a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,600 shares of the financial services provider's stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after purchasing an additional 62,876 shares during the period. Envestnet Asset Management Inc. boosted its position in FB Financial by 2.0% during the first quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider's stock worth $8,924,000 after purchasing an additional 3,779 shares during the period. Ieq Capital LLC bought a new position in FB Financial during the first quarter worth $245,000. Trexquant Investment LP bought a new position in FB Financial during the first quarter worth $769,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in FB Financial by 7.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,124 shares of the financial services provider's stock worth $6,450,000 after purchasing an additional 9,185 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

FB Financial stock opened at $52.37 on Wednesday. The business has a 50 day moving average of $50.48 and a 200-day moving average of $46.53. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88. The company has a market capitalization of $2.82 billion, a P/E ratio of 27.13 and a beta of 0.93.

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

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were paid a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.5%. FB Financial's dividend payout ratio is currently 39.38%.

Analyst Upgrades and Downgrades

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

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