FB Financial Corporation $FBK Holdings Lifted by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in FB Financial Corporation by 27.3%, purchasing an additional 23,815 shares during the first quarter, bringing its total ownership to approximately $5.1 million.
• Wall Street analysts have mixed ratings on FB Financial, with one firm downgrading it to a "sell" while others have upgraded it to an "outperform", indicating a consensus price target of $58.25.
• FB Financial recently announced a quarterly dividend of $0.19 per share, scheduled for payment on August 26th, reflecting a 1.5% dividend yield.

Public Sector Pension Investment Board boosted its position in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,994 shares of the financial services provider's stock after buying an additional 23,815 shares during the quarter. Public Sector Pension Investment Board owned 0.24% of FB Financial worth $5,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of FB Financial in the first quarter worth about $33,000. Sterling Capital Management LLC lifted its stake in FB Financial by 810.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,120 shares of the financial services provider's stock worth $58,000 after acquiring an additional 997 shares during the period. GAMMA Investing LLC lifted its stake in FB Financial by 36.7% in 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 period. CWM LLC lifted its stake in FB Financial by 58.2% in the first quarter. CWM LLC now owns 1,660 shares of the financial services provider's stock worth $77,000 after acquiring an additional 611 shares during the period. Finally, LPL Financial LLC purchased a new stake in FB Financial in the fourth quarter worth about $206,000. 65.40% of the stock is owned by hedge funds and other institutional investors.

FB Financial Price Performance

Shares of NYSE:FBK traded up $2.40 during trading on Friday, reaching $52.58. The company had a trading volume of 51,795 shares, compared to its average volume of 275,678. The stock's fifty day moving average price is $47.46 and its 200 day moving average price is $46.34. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 27.19 and a beta of 0.92.

FB Financial (NYSE:FBK - Get Free Report) last posted its 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 firm had revenue of $76.86 million for the quarter, compared to analysts' expectations of $136.32 million. On average, equities analysts anticipate that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be given a $0.19 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 1.4%. FB Financial's dividend payout ratio (DPR) is presently 39.38%.

Wall Street Analyst Weigh In

FBK has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of 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 increased their price objective for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, FB Financial currently has an average rating of "Buy" and an average 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.