Ieq Capital LLC Invests $245,000 in FB Financial Corporation $FBK

Key Points

• Ieq Capital LLC acquired a new stake in FB Financial Corporation, purchasing 5,278 shares valued at approximately $245,000 in the first quarter.
• FB Financial reported quarterly earnings of $0.88 per share, slightly missing consensus estimates of $0.89, alongside revenue of $76.86 million against expected $136.32 million.
• The company recently declared a quarterly dividend of $0.19 per share, representing an annualized yield of 1.4% and a payout ratio of 39.38%.

Ieq Capital LLC purchased a new position in FB Financial Corporation (NYSE:FBK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,278 shares of the financial services provider's stock, valued at approximately $245,000.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of FB Financial in the 1st quarter valued at approximately $39,275,000. Northern Trust Corp grew its stake in FB Financial by 15.3% during the 4th quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider's stock valued at $21,886,000 after purchasing an additional 56,474 shares during the last quarter. Millennium Management LLC grew its stake in FB Financial by 17.8% during the 4th quarter. Millennium Management LLC now owns 316,771 shares of the financial services provider's stock valued at $16,317,000 after purchasing an additional 47,761 shares during the last quarter. Penn Capital Management Company LLC lifted its holdings in FB Financial by 8.2% in the first quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider's stock valued at $12,861,000 after acquiring an additional 21,026 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in 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. Hedge funds and other institutional investors own 65.40% of the company's stock.

FB Financial Stock Performance

Shares of FBK stock traded up $0.01 during midday trading on Thursday, hitting $53.18. 65,857 shares of the company were exchanged, compared to its average volume of 277,573. The firm's 50 day moving average price is $50.03 and its two-hundred day moving average price is $46.46. The firm has a market capitalization of $2.86 billion, a P/E ratio of 27.53 and a beta of 0.93. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $76.86 million during 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%. Analysts expect that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Investors 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 yield of 1.4%. FB Financial's payout ratio is 39.38%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FBK shares. Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Cantor Fitzgerald began coverage on FB Financial in a research report on Wednesday. They set an "overweight" rating and a $61.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and lifted 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.com, the company currently has a consensus rating of "Buy" and an average target price 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.