FB Financial Corporation $FBK Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP raised its stake in FB Financial Corporation (NYSE:FBK) by 70.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,800 shares of the financial services provider’s stock after buying an additional 11,486 shares during the quarter. Quantinno Capital Management LP’s holdings in FB Financial were worth $1,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of FB Financial by 23.8% during the 1st quarter. AQR Capital Management LLC now owns 59,372 shares of the financial services provider’s stock valued at $2,752,000 after acquiring an additional 11,414 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in FB Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,149 shares of the financial services provider’s stock worth $980,000 after purchasing an additional 930 shares during the last quarter. Millennium Management LLC raised its stake in 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. Jones Financial Companies Lllp purchased a new position in FB Financial during the first quarter worth about $245,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in FB Financial by 39.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 80,138 shares of the financial services provider’s stock valued at $3,715,000 after purchasing an additional 22,662 shares during the last quarter. 65.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FBK shares. Hovde Group dropped their price target on shares of FB Financial from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Weiss Ratings raised shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Raymond James Financial increased their price objective on FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 1st. Finally, Benchmark raised their target price on FB Financial from $64.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, FB Financial currently has a consensus rating of “Buy” and an average target price of $64.67.

FB Financial Trading Up 0.1%

FBK stock opened at $62.13 on Friday. The business’s fifty day moving average price is $57.35 and its 200 day moving average price is $55.51. FB Financial Corporation has a 12-month low of $49.24 and a 12-month high of $62.66. The company has a market capitalization of $3.11 billion, a PE ratio of 16.66 and a beta of 0.94.

FB Financial (NYSE:FBK) last announced its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, meeting analysts’ consensus estimates of $1.14. The company had revenue of $175.94 million during the quarter, compared to analysts’ expectations of $177.45 million. FB Financial had a return on equity of 12.08% and a net margin of 19.00%. Research analysts predict that FB Financial Corporation will post 4.67 EPS for the current fiscal year.

FB Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, April 27th that allows the company to buyback $175.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 6.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

FB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Tuesday, August 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.84 annualized dividend and a dividend yield of 1.4%. FB Financial’s dividend payout ratio (DPR) is presently 22.52%.

FB Financial Profile

FB Financial Corporation, through its banking subsidiary FirstBank, is a Tennessee-based bank holding company that provides a broad range of financial services to individuals, small and medium-sized businesses, and commercial clients. Established to serve the banking needs of communities across the southeastern United States, the company’s core offerings include consumer and commercial deposit products, commercial lending, and mortgage services.

In addition to traditional checking and savings accounts, FB Financial’s service portfolio encompasses treasury and cash management, equipment financing, and letters of credit to support the working capital and expansion needs of business customers.