Jacobs Levy Equity Management Inc. Grows Stake in FB Financial Corporation $FBK

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FBK. Price T Rowe Associates Inc. MD grew its stake in FB Financial by 12.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,293 shares of the financial services provider's stock worth $1,097,000 after purchasing an additional 2,341 shares during the period. Northern Trust Corp grew its stake in FB Financial by 15.3% in the fourth quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider's stock worth $21,886,000 after purchasing an additional 56,474 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in FB Financial by 23.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,859 shares of the financial services provider's stock worth $559,000 after purchasing an additional 2,064 shares during the period. Ameriprise Financial Inc. grew its stake in FB Financial by 1.3% in 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 during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of FB Financial during the fourth quarter valued at $224,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Stock Up 0.3%

FBK traded up $0.19 during midday trading on Thursday, reaching $53.36. The company had a trading volume of 226,992 shares, compared to its average volume of 278,544. The business has a 50-day moving average of $50.03 and a two-hundred day moving average of $46.46. The company has a market cap of $2.87 billion, a P/E ratio of 27.65 and a beta of 0.93. FB Financial Corporation has a 1 year low of $38.83 and a 1 year high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The company had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. On average, equities research analysts predict that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.19 per share. 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 Analysts Forecast Growth

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

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.