Cubist Systematic Strategies LLC Purchases 7,482 Shares of FB Financial Corporation $FBK

Key Points

• Cubist Systematic Strategies LLC increased its stake in FB Financial Corporation by 13.9%, owning 61,301 shares valued at approximately $2.84 million by the end of the first quarter.
• Wall Street analysts show mixed sentiments towards FB Financial, with a consensus Buy rating, though price targets vary, with Keefe, Bruyette & Woods raising it to $58.00.
• FB Financial recently announced a quarterly dividend of $0.19, yielding 1.4%, with a dividend payout ratio of 39.38% as of now.

Cubist Systematic Strategies LLC lifted its position in FB Financial Corporation (NYSE:FBK - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,301 shares of the financial services provider's stock after purchasing an additional 7,482 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.13% of FB Financial worth $2,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew 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 buying an additional 62,876 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of FB Financial by 2.0% during 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 acquiring an additional 3,779 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of FB Financial by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after purchasing an additional 3,492 shares in the last quarter. Trexquant Investment LP bought a new position in shares of FB Financial in the first quarter worth approximately $769,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in FB Financial by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,219 shares of the financial services provider's stock valued at $1,041,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company's stock.

FB Financial Stock Performance

Shares of FBK stock traded up $0.19 on Thursday, hitting $53.36. 226,992 shares of the company's stock traded hands, compared to its average volume of 318,770. The company's fifty day simple moving average is $50.14 and its 200 day simple moving average is $46.48. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 27.65 and a beta of 0.93.

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

FB Financial Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald started coverage on shares of FB Financial in a report on Wednesday. They issued 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 upped their target price for the stock 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, FB Financial has an average rating of "Buy" and an average target price of $58.80.

FB Financial 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.