Jacobs Levy Equity Management Inc. Increases Stock Holdings in FB Financial Corporation $FBK

Jacobs Levy Equity Management Inc. boosted its position in FB Financial Corporation (NYSE:FBK - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,124 shares of the financial services provider's stock after buying an additional 9,185 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.30% of FB Financial worth $6,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in FB Financial by 6,237.7% in the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock valued at $2,962,000 after purchasing an additional 62,876 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in FB Financial by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 192,496 shares of the financial services provider's stock worth $8,924,000 after purchasing an additional 3,779 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of FB Financial in the 1st quarter worth about $245,000. Trexquant Investment LP purchased a new position in shares of FB Financial in the 1st quarter worth about $769,000. Finally, Ameriprise Financial Inc. raised its position in shares of FB Financial by 1.3% in the 4th 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 during the last quarter. Institutional investors own 65.40% of the company's stock.

Wall Street Analysts Forecast Growth

FBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Cantor Fitzgerald began coverage on FB Financial in a research report on Wednesday. They issued an "overweight" rating and a $61.00 price target for the company. Finally, Wall Street Zen cut 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 MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $58.80.

FB Financial Trading Down 0.4%

FBK traded down $0.20 on Friday, hitting $53.04. 182,689 shares of the company's stock traded hands, compared to its average volume of 305,851. The company's 50 day simple moving average is $50.25 and its 200-day simple moving average is $46.49. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 27.48 and a beta of 0.93. FB Financial Corporation has a one year low of $38.83 and a one year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued 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 business 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%. As a group, equities analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

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

FB Financial Company 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.