Rhumbline Advisers Has $4.89 Million Position in FB Financial Corporation $FBK

Key Points

• Rhumbline Advisers reduced its stake in FB Financial Corporation by 4.4% in Q1, holding 105,453 shares valued at $4.89 million as of its latest SEC filing.
• FB Financial reported an EPS of $0.88 for its last quarter, missing expectations of $0.89, with revenue significantly lower than anticipated at $76.86 million against a forecast of $136.32 million.
• The company announced a quarterly dividend of $0.19, resulting in an annualized rate of $0.76 and a yield of 1.4%, with a payout ratio of 39.38%.

Rhumbline Advisers reduced its stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,453 shares of the financial services provider's stock after selling 4,899 shares during the quarter. Rhumbline Advisers owned 0.23% of FB Financial worth $4,889,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FBK. Meeder Asset Management Inc. bought a new position in FB Financial in the first quarter valued at about $33,000. 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 valued at $64,000 after buying an additional 370 shares during the period. CWM LLC raised its position in shares of FB Financial by 58.2% during the first 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 raised its position 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 worth $202,000 after purchasing an additional 290 shares during the period. Finally, Blue Trust Inc. acquired a new stake in shares of FB Financial during the first quarter worth about $211,000. Institutional investors own 65.40% of the company's stock.

FB Financial Stock Down 0.4%

Shares of FB Financial stock opened at $53.04 on Friday. The company has a market cap of $2.86 billion, a PE ratio of 27.48 and a beta of 0.93. The business has a 50 day moving average price of $50.25 and a 200-day moving average price of $46.49. FB Financial Corporation has a 52 week low of $38.83 and a 52 week high of $58.88.

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

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, August 12th. FB Financial's dividend payout ratio (DPR) is 39.38%.

Wall Street Analyst Weigh In

FBK has been the topic of a number of recent research reports. Wall Street Zen lowered FB Financial from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upgraded FB Financial from a "market perform" rating to an "outperform" rating and raised their price target for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Finally, Cantor Fitzgerald began coverage on FB Financial in a research note on Wednesday. They set an "overweight" rating and a $61.00 target price for the company. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.