5,278 Shares in FB Financial Corporation $FBK Bought by Ieq Capital LLC

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 shares of FB Financial Corporation (NYSE:FBK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,278 shares of the financial services provider's stock, valued at approximately $245,000.

Several other hedge funds have also added to or reduced their stakes in FBK. Price T Rowe Associates Inc. MD lifted its holdings in FB Financial by 12.4% during the 4th 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 last quarter. Northern Trust Corp lifted its holdings 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 worth $21,886,000 after purchasing an additional 56,474 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in FB Financial by 23.5% during the 4th 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 last quarter. Ameriprise Financial Inc. lifted its holdings in FB Financial by 1.3% during 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. Finally, Brevan Howard Capital Management LP acquired a new stake in FB Financial during the 4th quarter worth approximately $224,000. 65.40% of the stock is owned by institutional investors and hedge funds.

FB Financial Trading Down 0.4%

NYSE FBK traded down $0.20 during midday trading on Friday, hitting $53.04. The company had a trading volume of 182,689 shares, compared to its average volume of 305,851. The company has a market capitalization of $2.86 billion, a PE ratio of 27.48 and a beta of 0.93. The firm has a 50-day moving average price of $50.25 and a 200-day moving average price of $46.51. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $58.88.

FB Financial (NYSE:FBK - Get Free Report) last posted 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). FB Financial had a return on equity of 10.15% and a net margin of 11.46%.The business had revenue of $76.86 million for the quarter, compared to analyst estimates of $136.32 million. On average, equities analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current year.

FB Financial Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on FBK. Wall Street Zen cut FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. 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 report on Friday, July 11th. Finally, Cantor Fitzgerald began coverage on FB Financial in a report on Wednesday. They set an "overweight" rating and a $61.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $58.80.

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.