50,000 Shares in FB Financial Corporation $FBK Bought by Mendon Capital Advisors Corp

Key Points

• Mendon Capital Advisors Corp has invested $2.32 million in FB Financial Corporation, acquiring 50,000 shares during the first quarter, making it the 29th largest position in their investment portfolio.
• Analysts have mixed views on FB Financial, with Keefe, Bruyette & Woods upgrading the stock to "outperform" and raising the price target to $58, while Wall Street Zen has downgraded it from "hold" to "sell."
• FB Financial recently reported a quarterly EPS of $0.88, missing estimates, and a quarterly dividend of $0.19 per share was declared with an annual yield of 1.4%.

Mendon Capital Advisors Corp bought a new position in FB Financial Corporation (NYSE:FBK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,000 shares of the financial services provider's stock, valued at approximately $2,318,000. FB Financial comprises approximately 1.1% of Mendon Capital Advisors Corp's portfolio, making the stock its 29th largest position. Mendon Capital Advisors Corp owned about 0.11% of FB Financial at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its holdings in shares of FB Financial by 0.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 34,705 shares of the financial services provider's stock worth $1,609,000 after purchasing an additional 253 shares during the last quarter. TBH Global Asset Management LLC boosted its holdings in shares of FB Financial by 5.3% during the first quarter. TBH Global Asset Management LLC now owns 5,790 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 290 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of FB Financial by 7.1% during the first quarter. Nisa Investment Advisors LLC now owns 4,368 shares of the financial services provider's stock valued at $202,000 after acquiring an additional 290 shares during the period. GAMMA Investing LLC grew its position in shares of FB Financial by 36.7% during the first quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after acquiring an additional 370 shares during the last quarter. Finally, Albert D Mason Inc. increased its holdings in shares of FB Financial by 1.7% in the 1st quarter. Albert D Mason Inc. now owns 23,872 shares of the financial services provider's stock worth $1,107,000 after acquiring an additional 398 shares during the period. 65.40% of the stock is owned by institutional investors.

FB Financial Price Performance

Shares of NYSE FBK traded down $0.47 during mid-day trading on Monday, reaching $52.56. 64,723 shares of the company traded hands, compared to its average volume of 276,746. The firm has a market cap of $2.83 billion, a PE ratio of 27.23 and a beta of 0.93. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The stock has a fifty day simple moving average of $50.25 and a 200-day simple moving average of $46.47.

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

FB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th were issued a $0.19 dividend. 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 is presently 39.38%.

Wall Street Analysts Forecast Growth

FBK has been the subject of a number of analyst reports. Wall Street Zen lowered shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Finally, Cantor Fitzgerald initiated coverage on FB Financial in a research report on Wednesday, September 10th. They issued an "overweight" rating and a $61.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, FB Financial presently has a consensus rating of "Buy" and a consensus 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.