6,700 Shares in FB Financial Corporation (NYSE:FBK) Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH acquired 6,700 shares of FB Financial Corporation, valued at approximately $311,000, as part of its new position reported in a recent SEC filing.
• FB Financial recently announced a quarterly dividend of $0.19 per share, with an annualized yield of 1.6%, to be paid on August 26th.
• FB Financial's stock has seen a 2.5% decline, and the company missed earnings estimates, reporting $0.88 EPS against an expected $0.89.

Allianz Asset Management GmbH bought a new stake in FB Financial Corporation (NYSE:FBK - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,700 shares of the financial services provider's stock, valued at approximately $311,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FBK. MQS Management LLC acquired a new stake in shares of FB Financial in the 1st quarter worth $357,000. CWM LLC increased its position in FB Financial by 58.2% during the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after purchasing an additional 611 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in FB Financial by 7.1% during the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock worth $202,000 after purchasing an additional 290 shares during the period. Envestnet Asset Management Inc. boosted its holdings in FB Financial by 2.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider's stock valued at $8,924,000 after purchasing an additional 3,779 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of FB Financial by 3.5% in the 1st quarter. Principal Financial Group Inc. now owns 192,645 shares of the financial services provider's stock valued at $8,931,000 after buying an additional 6,444 shares during the period. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Up 1.3%

NYSE FBK traded up $0.60 on Monday, reaching $48.07. The stock had a trading volume of 380,914 shares, compared to its average volume of 572,298. The stock has a fifty day moving average price of $45.87 and a two-hundred day moving average price of $46.59. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 24.91 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last posted 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 analysts' expectations of $136.32 million. Sell-side analysts forecast that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.6%. FB Financial's dividend payout ratio is currently 39.38%.

Analyst Upgrades and Downgrades

FBK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Piper Sandler decreased their price target on FB Financial from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.25.

About FB Financial

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.