Jupiter Topco LLC Purchases New Shares in FB Financial Corporation $FBK

Key Points

• Jupiter Topco LLC acquired 385,498 FB Financial shares worth approximately $21.3 million, representing about 0.77% of the company. Institutional investors collectively own 65.4% of FBK.
• FB Financial reported quarterly earnings of $1.14 per share, in line with estimates, while revenue of $175.94 million fell slightly short of expectations. Analysts project full-year earnings of $4.67 per share.
• The company paid a quarterly dividend of $0.21 per share, equal to an annualized $0.84 and a 1.5% yield. Analysts maintain a consensus “Buy” rating with an average price target of $64.67, above the reported $57.86 share price.

Jupiter Topco LLC purchased a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 385,498 shares of the financial services provider's stock, valued at approximately $21,338,000. Jupiter Topco LLC owned approximately 0.77% of FB Financial as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FBK. AQR Capital Management LLC raised its stake in shares of FB Financial by 23.8% in the first quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider's stock worth $2,752,000 after acquiring an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of FB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider's stock valued at $980,000 after purchasing an additional 930 shares during the last quarter. Millennium Management LLC grew its stake in shares of FB Financial by 11.8% during the first quarter. Millennium Management LLC now owns 354,156 shares of the financial services provider's stock valued at $16,419,000 after purchasing an additional 37,385 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of FB Financial during the first quarter valued at approximately $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of FB Financial by 39.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider's stock valued at $3,715,000 after purchasing an additional 22,662 shares in the last quarter. Institutional investors own 65.40% of the company's stock.

FB Financial Price Performance

Shares of NYSE:FBK opened at $57.86 on Friday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 15.51 and a beta of 0.94. The company has a 50 day moving average of $58.51 and a 200-day moving average of $55.54. FB Financial Corporation has a one year low of $49.24 and a one year high of $62.65.

FB Financial (NYSE:FBK - Get Free Report) last announced its quarterly earnings data on Monday, July 13th. The financial services provider reported $1.14 earnings per share for the quarter, meeting the consensus estimate of $1.14. FB Financial had a net margin of 19.00% and a return on equity of 12.08%. The business had revenue of $175.94 million for the quarter, compared to analyst estimates of $177.45 million. Equities research analysts anticipate that FB Financial Corporation will post 4.67 earnings per share for the current year.

FB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th were paid a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's dividend payout ratio is 22.52%.

Wall Street Analysts Forecast Growth

FBK has been the topic of several research reports. Benchmark upped their price objective on FB Financial from $64.00 to $67.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Raymond James Financial lifted their target price on FB Financial from $62.00 to $63.00 and gave the company a "strong-buy" rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods restated an "outperform" rating on shares of FB Financial in a research report on Tuesday, July 14th. Finally, Weiss Ratings upgraded FB Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $64.67.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company's core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial's service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.

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