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 decreased its holdings in FB Financial Corporation (NYSE:FBK - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,453 shares of the financial services provider's stock after selling 4,899 shares during the period. Rhumbline Advisers owned about 0.23% of FB Financial worth $4,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nuveen LLC bought a new position in shares of FB Financial during the first quarter worth approximately $39,275,000. Millennium Management LLC increased 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 worth $16,419,000 after purchasing an additional 37,385 shares during the period. Penn Capital Management Company LLC increased its stake in shares of FB Financial by 8.2% during the first quarter. Penn Capital Management Company LLC now owns 277,090 shares of the financial services provider's stock worth $12,861,000 after purchasing an additional 21,026 shares during the period. Ameriprise Financial Inc. increased its stake in shares of FB Financial by 1.3% during the fourth quarter. Ameriprise Financial Inc. now owns 274,427 shares of the financial services provider's stock worth $14,136,000 after purchasing an additional 3,492 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of FB Financial by 29.0% during the fourth quarter. Nuveen Asset Management LLC now owns 259,809 shares of the financial services provider's stock worth $13,383,000 after purchasing an additional 58,402 shares during the period. Institutional investors own 65.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FBK shares. Wall Street Zen lowered FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $52.00 to $58.00 in a research report on Friday, July 11th. Finally, Cantor Fitzgerald started coverage on FB Financial in a research report on Wednesday, September 10th. They set an "overweight" rating and a $61.00 price target on the stock. Five equities research 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 a consensus price target of $58.80.

FB Financial Stock Up 3.0%

Shares of FBK stock traded up $1.58 during trading hours on Thursday, reaching $54.39. The company's stock had a trading volume of 287,193 shares, compared to its average volume of 276,392. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 28.18 and a beta of 0.93. The firm's 50 day simple moving average is $50.73 and its 200-day simple moving average is $46.60.

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

FB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 26th. Investors of record on Tuesday, August 12th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was 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 39.38%.

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.