Deutsche Bank AG Buys Shares of 45,229 FB Financial Corporation $FBK

Key Points

• Deutsche Bank AG acquired 45,229 FB Financial shares worth approximately $2.5 million, taking a 0.09% stake. Institutional investors and hedge funds collectively own 65.4% of the company.
• FB Financial shares opened at $57.59, while analysts maintain a consensus “Buy” rating and a $64.67 average price target.
• The company reported quarterly earnings of $1.14 per share, matching estimates, and maintains a quarterly dividend of $0.21 per share, equivalent to a 1.5% yield.

Deutsche Bank AG bought a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 45,229 shares of the financial services provider's stock, valued at approximately $2,503,000. Deutsche Bank AG owned approximately 0.09% of FB Financial as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC acquired a new position in FB Financial in the 4th quarter valued at $27,000. Global Retirement Partners LLC acquired a new position in FB Financial in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC grew its holdings in shares of FB Financial by 1,152.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 864 shares of the financial services provider's stock worth $39,000 after purchasing an additional 795 shares in the last quarter. State of Wyoming bought a new position in shares of FB Financial in the first quarter worth $63,000. Finally, Johnson Financial Group Inc. acquired a new stake in FB Financial during the third quarter worth about $75,000. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Stock Down 0.2%

FBK stock opened at $57.59 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 15.44 and a beta of 0.94. The company's fifty day simple moving average is $58.43 and its 200 day simple moving average is $55.52. FB Financial Corporation has a 12-month low of $49.24 and a 12-month high of $62.65.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. The firm had revenue of $175.94 million during the quarter, compared to analyst estimates of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts expect that FB Financial Corporation will post 4.67 earnings per share for the current year.

FB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were paid a dividend of $0.21 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.84 annualized dividend and a yield of 1.5%. FB Financial's dividend payout ratio (DPR) is 22.52%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Raymond James Financial upped their target price on FB Financial from $62.00 to $63.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of FB Financial in a report on Tuesday, July 14th. Benchmark boosted their target price on FB Financial from $64.00 to $67.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $64.67.

FB Financial Company Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company's core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial's service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.

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