Invesco Ltd. Purchases 98,843 Shares of FB Financial Corporation $FBK

Key Points

• Invesco Ltd. boosted its stake in FB Financial Corporation by 93.9% in Q1, owning approximately 0.44% of the company after acquiring an additional 98,843 shares.
• FB Financial's earnings per share for the last quarter was reported at $0.88, below the estimated $0.89, alongside lower revenue compared to expectations.
• The company recently declared a $0.19 quarterly dividend, reflecting an annualized yield of 1.4% and a payout ratio of 39.38%.

Invesco Ltd. lifted its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 93.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,118 shares of the financial services provider's stock after purchasing an additional 98,843 shares during the quarter. Invesco Ltd. owned 0.44% of FB Financial worth $9,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of FB Financial in the 1st quarter worth approximately $33,000. GAMMA Investing LLC raised its position in shares of FB Financial by 36.7% in the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 370 shares during the period. CWM LLC boosted its stake in FB Financial by 58.2% in the 1st quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after purchasing an additional 611 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of FB Financial by 7.1% in the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock worth $202,000 after purchasing an additional 290 shares during the period. Finally, LPL Financial LLC purchased a new stake in FB Financial in the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Price Performance

FB Financial stock traded up $0.27 during trading hours on Wednesday, reaching $53.79. The company had a trading volume of 204,072 shares, compared to its average volume of 441,746. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 27.87 and a beta of 0.92. FB Financial Corporation has a 12-month low of $38.83 and a 12-month high of $58.88. The company has a 50-day moving average price of $48.30 and a 200 day moving average price of $46.34.

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). The firm 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, research analysts expect that FB Financial Corporation will post 3.64 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 26th. Investors of record on Tuesday, August 12th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

FBK has been the subject of a number of research reports. 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 upped their target price for the stock from $52.00 to $58.00 in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $58.25.

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.