FB Financial Corporation $FBK Shares Sold by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC has reduced its holdings in FB Financial Corporation by 60.9%, bringing its stake to approximately $7.14 million after selling over 240,000 shares in the first quarter.
• FB Financial recently announced an earnings per share of $0.88, which missed the consensus estimate of $0.89, alongside a revenue of $76.86 million, significantly below expectations.
• The company declared a quarterly dividend of $0.19 per share, representing an annualized yield of 1.4%, with a payout ratio of 39.38%.

Bridgeway Capital Management LLC cut its stake in FB Financial Corporation (NYSE:FBK - Free Report) by 60.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,048 shares of the financial services provider's stock after selling 240,107 shares during the quarter. Bridgeway Capital Management LLC owned about 0.34% of FB Financial worth $7,142,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of FB Financial by 23.8% in the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider's stock worth $2,752,000 after purchasing an additional 11,414 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of FB Financial by 13.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 61,301 shares of the financial services provider's stock valued at $2,842,000 after purchasing an additional 7,482 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of FB Financial during the 1st quarter valued at $769,000. Wealth Preservation Advisors LLC acquired a new position in shares of FB Financial in the 1st quarter valued at $881,000. Finally, Ieq Capital LLC acquired a new position in shares of FB Financial in the 1st quarter valued at $245,000. Institutional investors own 65.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Cantor Fitzgerald initiated coverage on shares of FB Financial in a report on Wednesday. They set an "overweight" rating and a $61.00 price target for the company. Finally, Wall Street Zen cut shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $58.80.

FB Financial Stock Performance

Shares of NYSE FBK traded up $0.39 during midday trading on Wednesday, reaching $53.28. The stock had a trading volume of 38,232 shares, compared to its average volume of 277,970. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The stock has a 50-day moving average of $49.90 and a 200-day moving average of $46.41. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.63 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 earnings per share 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 analysts' expectations of $136.32 million. FB Financial had a net margin of 11.46% and a return on equity of 10.15%. As a group, analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.19 per share. 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 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.