Trexquant Investment LP Buys Shares of 16,580 FB Financial Corporation $FBK

Key Points

• Trexquant Investment LP has acquired a new position in FB Financial Corporation by purchasing 16,580 shares valued at approximately $769,000 during the first quarter.
• FB Financial reported earnings of $0.88 per share for the last quarter, which missed analysts' consensus estimate of $0.89, while its revenue was significantly below expectations at $76.86 million.
• The company's recent quarterly dividend of $0.19 per share yields 1.4%, with a dividend payout ratio of 39.38% as reported in their latest announcements.

Trexquant Investment LP purchased a new position in FB Financial Corporation (NYSE:FBK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,580 shares of the financial services provider's stock, valued at approximately $769,000.

Several other hedge funds have also made changes to their positions in FBK. Meeder Asset Management Inc. bought a new position in FB Financial in the 1st quarter worth about $33,000. GAMMA Investing LLC grew its position in FB Financial by 36.7% in the 1st quarter. GAMMA Investing LLC now owns 1,378 shares of the financial services provider's stock worth $64,000 after purchasing an additional 370 shares during the last quarter. CWM LLC grew its position in FB Financial by 58.2% in the 1st 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 last quarter. Point72 Asset Management L.P. raised its stake in FB Financial by 320.0% during the 4th quarter. Point72 Asset Management L.P. now owns 4,200 shares of the financial services provider's stock valued at $216,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in FB Financial during the 4th quarter valued at $224,000. Institutional investors own 65.40% of the company's stock.

FB Financial Trading Down 0.4%

Shares of FB Financial stock traded down $0.20 on Friday, reaching $53.04. 182,689 shares of the company were exchanged, compared to its average volume of 305,851. 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 moving average price of $50.25 and a 200-day moving average price of $46.51. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 27.48 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last announced its earnings results on Monday, July 14th. The financial services provider reported $0.88 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $136.32 million. On average, equities analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.4%. FB Financial's payout ratio is currently 39.38%.

Analyst Ratings Changes

Several analysts have weighed in on FBK shares. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $52.00 to $58.00 in a research note on Friday, July 11th. Wall Street Zen cut shares of FB Financial from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald initiated coverage on shares of FB Financial in a research note on Wednesday. They set an "overweight" rating and a $61.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $58.80.

FB Financial Company Profile

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.