Trexquant Investment LP Takes Position in 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 acquired a new position in shares of FB Financial Corporation (NYSE:FBK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,580 shares of the financial services provider's stock, valued at approximately $769,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FBK. Nuveen LLC acquired a new position in FB Financial during the first quarter worth $39,275,000. Invesco Ltd. grew its holdings in FB Financial by 93.9% during the first quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider's stock worth $9,463,000 after acquiring an additional 98,843 shares during the period. GAMMA Investing LLC grew its holdings in FB Financial by 6,237.7% during the first quarter. GAMMA Investing LLC now owns 63,884 shares of the financial services provider's stock worth $2,962,000 after acquiring an additional 62,876 shares during the period. Nuveen Asset Management LLC grew its holdings in 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 acquiring an additional 58,402 shares during the period. Finally, Northern Trust Corp grew its holdings in FB Financial by 15.3% during the fourth quarter. Northern Trust Corp now owns 424,882 shares of the financial services provider's stock worth $21,886,000 after acquiring an additional 56,474 shares during the period. Institutional investors and hedge funds own 65.40% of the company's stock.

FB Financial Stock Performance

FB Financial stock opened at $53.68 on Monday. FB Financial Corporation has a fifty-two week low of $38.83 and a fifty-two week high of $58.88. The stock's fifty day moving average is $49.61 and its two-hundred day moving average is $46.34. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 27.81 and a beta of 0.93.

FB Financial (NYSE:FBK - Get Free Report) last issued its quarterly earnings data 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). FB Financial had a net margin of 11.46% and a return on equity of 10.15%. The company had revenue of $76.86 million during the quarter, compared to analysts' expectations of $136.32 million. As a group, sell-side analysts forecast that FB Financial Corporation will post 3.64 EPS for the current fiscal year.

FB Financial Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised FB Financial from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen lowered FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, FB Financial has an average rating of "Buy" and an average target price of $58.25.

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.

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.