FB Financial Corporation $FBK Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its holdings in FB Financial Corporation by 286.4%, acquiring an additional 21,034 shares to reach a total of 28,378 shares worth approximately $1.3 million.
• FB Financial recently reported earnings per share of $0.88, which missed analysts' expectations by $0.01, alongside a revenue of $76.86 million significantly below estimates.
• The company has announced a quarterly dividend of $0.19 per share, payable on August 26th, representing an annual yield of 1.4%.

AlphaQuest LLC increased its position in FB Financial Corporation (NYSE:FBK - Free Report) by 286.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,378 shares of the financial services provider's stock after acquiring an additional 21,034 shares during the period. AlphaQuest LLC owned about 0.06% of FB Financial worth $1,316,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of FB Financial in the first quarter worth $33,000. GAMMA Investing LLC boosted its stake in shares of FB Financial by 36.7% in the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after acquiring an additional 370 shares during the period. CWM LLC boosted its stake in shares of FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after acquiring an additional 611 shares during the period. LPL Financial LLC bought a new position in shares of FB Financial in the fourth quarter worth about $206,000. Finally, Covenant Partners LLC bought a new position in shares of FB Financial in the fourth quarter worth about $211,000. Institutional investors own 65.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FBK. Wall Street Zen downgraded FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $52.00 to $58.00 in a research report on Friday, July 11th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $58.25.

FB Financial Stock Up 0.5%

NYSE:FBK traded up $0.27 during midday trading on Wednesday, hitting $53.79. The stock had a trading volume of 204,072 shares, compared to its average volume of 280,058. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 27.87 and a beta of 0.92. The stock has a 50-day moving average of $48.30 and a 200 day moving average of $46.34.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results 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). The company had revenue of $76.86 million for the quarter, compared to the consensus estimate of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. On average, sell-side analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

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

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.